Chesley Taft & Associates LLC Buys New Stake in Newmont Co. (NYSE:NEM)

Chesley Taft & Associates LLC bought a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,605 shares of the basic materials company's stock, valued at approximately $898,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new stake in Newmont during the fourth quarter valued at approximately $1,624,000. Bfsg LLC lifted its position in Newmont by 47.7% during the fourth quarter. Bfsg LLC now owns 178,566 shares of the basic materials company's stock valued at $6,646,000 after acquiring an additional 57,690 shares during the last quarter. Principal Securities Inc. lifted its position in Newmont by 196.9% during the fourth quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company's stock valued at $214,000 after acquiring an additional 3,813 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its position in 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 valued at $854,000 after acquiring an additional 8,913 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in Newmont by 53.5% during 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 during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's 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 completion of the transaction, the executive vice president now owns 77,526 shares in the company, valued at $4,193,381.34. The trade was a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $112,344.93. Following the sale, the director now 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 7,154 shares of company stock worth $381,539. Corporate insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NEM. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Scotiabank restated a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Raymond James reaffirmed an "outperform" rating and set a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. One investment 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 company's stock. According to data from MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and an average target price of $57.68.

Newmont Price Performance

Shares of NEM opened at $54.46 on Friday. 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 stock has a market cap of $60.61 billion, a PE ratio of 18.59, a P/E/G ratio of 0.41 and a beta of 0.31. The firm has a 50-day simple moving average of $52.08 and a two-hundred day simple moving average of $45.91. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72.

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

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio (DPR) 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.

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