Baxter Bros Inc. Sells 8,015 Shares of Newmont Co. (NYSE:NEM)

Baxter Bros Inc. cut its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 50.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,972 shares of the basic materials company's stock after selling 8,015 shares during the quarter. Baxter Bros Inc.'s holdings in Newmont were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Nexus Investment Management ULC bought a new stake in Newmont during the first quarter valued at approximately $31,000. HHM Wealth Advisors LLC lifted its position in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Redwood Park Advisors LLC purchased a new position in shares of Newmont during the fourth quarter worth approximately $37,000. Promus Capital LLC purchased a new position in shares of Newmont during the fourth quarter worth approximately $38,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Newmont during the fourth quarter worth approximately $43,000. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on NEM. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Royal Bank of Canada lifted their price target on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Raymond James reissued an "outperform" rating and set a $66.00 price target on shares of Newmont in a research note on Friday, April 25th. Finally, Argus set a $63.00 price target on shares of Newmont in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.68.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the sale, the director now directly owns 45,180 shares of the company's stock, valued at $2,443,786.20. This represents a 4.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the sale, the executive vice president now directly owns 77,526 shares in the company, valued at $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,154 shares of company stock valued at $381,539. 0.05% of the stock is currently owned by company insiders.

Newmont Trading Down 0.1%

Newmont stock traded down $0.05 during mid-day trading on Wednesday, reaching $55.29. 8,564,079 shares of the company traded hands, compared to its average volume of 10,186,419. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm's 50 day moving average price is $51.81 and its 200 day moving average price is $45.76. The firm has a market capitalization of $61.54 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 0.41 and a beta of 0.31. Newmont Co. has a 52-week low of $36.86 and a 52-week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period in the previous year, the firm earned $0.55 EPS. On average, analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's payout ratio is currently 22.42%.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.