5,869 Shares in Newmont Co. (NYSE:NEM) Purchased by Columbia Asset Management

Columbia Asset Management bought a new position in Newmont Co. (NYSE:NEM - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 5,869 shares of the basic materials company's stock, valued at approximately $283,000.

A number of other institutional investors also recently bought and sold shares of NEM. Strategic Financial Concepts LLC acquired a new position in shares of Newmont in the fourth quarter valued at about $1,624,000. Bfsg LLC boosted its position in Newmont by 47.7% in the fourth quarter. Bfsg LLC now owns 178,566 shares of the basic materials company's stock valued at $6,646,000 after buying an additional 57,690 shares during the last quarter. Principal Securities Inc. increased its holdings in Newmont by 196.9% in the 4th quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company's stock worth $214,000 after buying an additional 3,813 shares during the period. Robertson Stephens Wealth Management LLC raised its position in Newmont by 63.5% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 22,942 shares of the basic materials company's stock worth $854,000 after buying an additional 8,913 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in Newmont by 53.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 13,918 shares of the basic materials company's stock worth $518,000 after buying an additional 4,852 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the business'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 $162,270.00. Following the transaction, the executive vice president now directly owns 77,526 shares in the company, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the sale, the director now owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,154 shares of company stock worth $381,539. Insiders own 0.05% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NEM. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Raymond James reaffirmed an "outperform" rating and issued a $66.00 price target on shares of Newmont in a report on Friday, April 25th. Argus set a $63.00 price objective on Newmont in a research note on Friday, April 25th. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $57.68.

Newmont Price Performance

Shares of NYSE:NEM traded down $0.82 during midday trading on Thursday, reaching $54.46. 13,469,457 shares of the company's stock traded hands, compared to its average volume of 10,220,017. The company has a fifty day simple moving average of $51.96 and a two-hundred day simple moving average of $45.83. Newmont Co. has a 1 year low of $36.86 and a 1 year high of $58.72. The company has a market cap of $60.61 billion, a P/E ratio of 18.59, a PEG ratio of 0.41 and a beta of 0.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same quarter last year, the business earned $0.55 earnings per share. Equities analysts predict that Newmont Co. will post 3.45 EPS 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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio is presently 22.42%.

Newmont Company 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.