Bayforest Capital Ltd Has $426,000 Holdings in Newmont Corporation (NYSE:NEM)

Key Points

• Bayforest Capital Ltd increased its stake in Newmont Corporation by 269.4% in the first quarter, acquiring a total of 8,829 shares valued at approximately $426,000.
• Newmont's latest earnings report revealed $1.43 earnings per share, exceeding analysts' expectations, and a 20.8% year-over-year revenue increase to $5.32 billion.
• The company announced a quarterly dividend of $0.25 per share, with an annualized dividend yield of 1.60%, to be paid on September 29th.

Bayforest Capital Ltd boosted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 269.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,829 shares of the basic materials company's stock after buying an additional 6,439 shares during the quarter. Bayforest Capital Ltd's holdings in Newmont were worth $426,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Ipswich Investment Management Co. Inc. lifted its stake in shares of Newmont by 1.4% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after purchasing an additional 200 shares during the period. SOA Wealth Advisors LLC. lifted its stake in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the period. HighPoint Advisor Group LLC lifted its stake in shares of Newmont by 3.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock valued at $223,000 after purchasing an additional 219 shares during the period. Rothschild Investment LLC lifted its stake in shares of Newmont by 8.5% in the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after purchasing an additional 219 shares during the period. Finally, Twin Capital Management Inc. increased its position in shares of Newmont by 0.7% in the 1st quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock valued at $1,873,000 after buying an additional 254 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the transaction, the director owned 43,103 shares in the company, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president owned 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,154 shares of company stock valued at $572,889 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Up 4.1%

Shares of NYSE NEM traded up $2.54 during mid-day trading on Monday, hitting $65.13. The company had a trading volume of 5,268,297 shares, compared to its average volume of 12,131,524. The company has a market capitalization of $71.54 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.76 and a beta of 0.30. The firm has a 50-day simple moving average of $58.10 and a two-hundred day simple moving average of $51.42. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a one year low of $36.86 and a one year high of $66.57.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%. Newmont's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. On average, equities analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. Newmont's dividend payout ratio (DPR) is presently 17.95%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NEM shares. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. The Goldman Sachs Group restated a "neutral" rating and issued a $60.90 price objective on shares of Newmont in a research report on Tuesday, July 8th. UBS Group upped their price objective on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Finally, National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

About Newmont

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.