Birmingham Capital Management Co. Inc. AL Takes $244,000 Position in Newmont Co. (NYSE:NEM)

Birmingham Capital Management Co. Inc. AL purchased a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,550 shares of the basic materials company's stock, valued at approximately $244,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its stake in Newmont by 288.1% during the 4th quarter. Avior Wealth Management LLC now owns 1,925 shares of the basic materials company's stock worth $72,000 after buying an additional 1,429 shares during the period. Brighton Jones LLC grew its stake in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after acquiring an additional 1,847 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Newmont by 53.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,640 shares of the basic materials company's stock worth $322,000 after acquiring an additional 3,001 shares during the period. Blue Trust Inc. raised its stake in shares of Newmont by 9.9% in the fourth quarter. Blue Trust Inc. now owns 20,657 shares of the basic materials company's stock valued at $769,000 after acquiring an additional 1,860 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Newmont in the fourth quarter valued at $7,508,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

Shares of NYSE:NEM traded up $0.15 on Friday, reaching $52.67. The company's stock had a trading volume of 18,835,014 shares, compared to its average volume of 11,846,213. 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 52-week low of $36.86 and a 52-week high of $58.72. The stock's 50-day moving average is $51.40 and its two-hundred day moving average is $45.45. The stock has a market capitalization of $58.62 billion, a P/E ratio of 17.98, a PEG ratio of 0.41 and a beta of 0.31.

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

Newmont Announces Dividend

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 issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. Newmont's dividend payout ratio is presently 22.42%.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the transaction, the executive vice president now owns 86,526 shares of the company's stock, valued at approximately $3,782,051.46. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,154 shares of company stock valued at $328,840. 0.05% of the stock is owned by insiders.

Analyst Ratings Changes

NEM has been the subject of several recent research reports. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $50.00 to $60.00 in a research note on Friday, April 11th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Finally, National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. 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. Based on data from MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and an average target price of $56.52.

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.