Bfsg LLC Buys 71,014 Shares of Newmont Co. (NYSE:NEM)

Bfsg LLC increased its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 39.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 249,580 shares of the basic materials company's stock after purchasing an additional 71,014 shares during the quarter. Newmont accounts for approximately 1.5% of Bfsg LLC's investment portfolio, making the stock its 11th largest position. Bfsg LLC's holdings in Newmont were worth $12,050,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SOA Wealth Advisors LLC. lifted its holdings in shares of Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after acquiring an additional 201 shares during the last quarter. Nexus Investment Management ULC bought a new position in Newmont during the 1st quarter worth $31,000. Redwood Park Advisors LLC bought a new position in shares of Newmont during the fourth quarter worth about $37,000. Promus Capital LLC bought a new position in Newmont during the 4th quarter worth approximately $38,000. Finally, Kestra Investment Management LLC bought a new position in Newmont during the fourth quarter worth $43,000. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $58.10 on Tuesday. The firm has a market capitalization of $64.66 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 0.41 and a beta of 0.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a one year low of $36.86 and a one year high of $58.78. The company's fifty day moving average price is $53.26 and its 200-day moving average price is $46.55.

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

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.72%. Newmont's payout ratio is 22.42%.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on 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 owns 45,180 shares in the company, valued at $2,443,786.20. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated 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 directly owns 77,526 shares in the company, 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 a total of 7,154 shares of company stock valued at $381,539 in the last quarter. Insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Raymond James reiterated an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a research note on Friday, April 25th. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Argus set a $63.00 target price on Newmont in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $57.68.

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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