Oppenheimer & Close LLC Has $3.25 Million Stock Holdings in Newmont Corporation (NYSE:NEM)

Oppenheimer & Close LLC raised its stake in Newmont Corporation (NYSE:NEM) by 8.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,405 shares of the basic materials company’s stock after purchasing an additional 5,000 shares during the quarter. Newmont makes up about 2.7% of Oppenheimer & Close LLC’s portfolio, making the stock its 13th biggest holding. Oppenheimer & Close LLC’s holdings in Newmont were worth $3,254,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. grew its stake in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 201 shares in the last quarter. Cloud Capital Management LLC bought a new position in shares of Newmont during the 1st quarter worth approximately $26,000. Private Trust Co. NA boosted its stake in shares of Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 347 shares during the period. Nexus Investment Management ULC bought a new position in shares of Newmont during the 1st quarter worth approximately $31,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Newmont during the 1st quarter worth approximately $32,000. 68.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president owned 77,526 shares in the company, valued at $4,193,381.34. The trade was a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the sale, the director owned 43,103 shares in the company, valued at $2,532,301.25. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock valued at $679,813 in the last three months. 0.05% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NEM shares. BMO Capital Markets reiterated an “outperform” rating on shares of Newmont in a research note on Thursday, April 24th. Cfra Research upgraded Newmont to a “strong-buy” rating in a research note on Friday, April 25th. Argus set a $63.00 target price on Newmont in a research note on Friday, April 25th. Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Finally, National Bankshares reissued a “sector perform” rating on shares of Newmont in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.11.

Newmont Price Performance

Shares of NYSE NEM opened at $59.86 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $60.31. The stock has a market capitalization of $66.62 billion, a PE ratio of 13.42, a P/E/G ratio of 0.79 and a beta of 0.33. The business has a fifty day moving average price of $54.67 and a two-hundred day moving average price of $48.25.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The company had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. As a group, equities analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.67%. Newmont’s dividend payout ratio (DPR) is currently 22.42%.

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.