Beach Investment Counsel Inc. PA Takes $1.67 Million Position in Newmont Co. (NYSE:NEM)

Beach Investment Counsel Inc. PA bought a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 34,535 shares of the basic materials company's stock, valued at approximately $1,667,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after buying an additional 1,847 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Newmont in the fourth quarter valued at $7,508,000. Stratos Wealth Partners LTD. boosted its stake in Newmont by 53.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 13,918 shares of the basic materials company's stock valued at $518,000 after acquiring an additional 4,852 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Newmont by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,540 shares of the basic materials company's stock valued at $4,501,000 after acquiring an additional 24,562 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its holdings in shares of Newmont by 63.5% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 22,942 shares of the basic materials company's stock worth $854,000 after purchasing an additional 8,913 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $52.36 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $52.16 and a 200 day moving average price of $45.99. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. The company has a market cap of $58.28 billion, a P/E ratio of 17.87, a PEG ratio of 0.41 and a beta of 0.31.

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

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.91%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NEM. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Cfra Research raised Newmont to a "strong-buy" rating in a report on Friday, April 25th. TD Securities lowered their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.68.

Insider Transactions at Newmont

In other Newmont 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 transaction of $112,344.93. Following the transaction, the director now directly owns 45,180 shares in the company, valued at approximately $2,443,786.20. This represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president now owns 77,526 shares of the company's stock, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock valued at $381,539 in the last ninety days. 0.05% of the stock is currently owned by company insiders.

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.

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