Gordian Capital Singapore Pte Ltd Buys New Holdings in Newmont Co. (NYSE:NEM)

Gordian Capital Singapore Pte Ltd acquired a new position in Newmont Co. (NYSE:NEM) in the 2nd quarter, Holdings Channel reports. The firm acquired 18,000 shares of the basic materials company’s stock, valued at approximately $754,000.

Other hedge funds have also made changes to their positions in the company. LRI Investments LLC purchased a new position in Newmont in the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new position in Newmont in the second quarter worth $25,000. Meeder Asset Management Inc. bought a new stake in Newmont during the second quarter valued at $27,000. Heritage Wealth Advisors grew its position in shares of Newmont by 1,310.4% during the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in shares of Newmont during the first quarter valued at $35,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 1.3 %

NYSE NEM opened at $54.14 on Wednesday. The firm’s 50 day moving average price is $51.10 and its two-hundred day moving average price is $44.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $56.30. The stock has a market cap of $62.43 billion, a price-to-earnings ratio of -20.28, a PEG ratio of 0.47 and a beta of 0.49.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. Newmont’s quarterly revenue was up 64.1% on a year-over-year basis. Equities analysts anticipate that Newmont Co. will post 2.88 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Thursday, September 5th. Newmont’s payout ratio is presently -37.45%.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,000 shares of company stock valued at $2,197,010. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America boosted their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. BMO Capital Markets increased their price target on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Jefferies Financial Group lifted their price target on Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 12th. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and upped their price objective for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. Finally, Veritas raised Newmont to a “strong-buy” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $52.62.

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.