Alpha Paradigm Partners LLC purchased a new position in shares of Newmont Co. (NYSE:NEM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,642 shares of the basic materials company’s stock, valued at approximately $294,000.
Several other hedge funds have also modified their holdings of the stock. Aspire Private Capital LLC increased its holdings in Newmont by 3,592.9% during the 1st quarter. Aspire Private Capital LLC now owns 517 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 503 shares during the period. FormulaFolio Investments LLC purchased a new position in Newmont during the 1st quarter worth $34,000. Mizuho Securities Co. Ltd. purchased a new position in Newmont during the 1st quarter worth $36,000. Strategic Blueprint LLC purchased a new position in Newmont during the 2nd quarter worth $37,000. Finally, Bbva USA purchased a new position in Newmont during the 2nd quarter worth $38,000. 77.76% of the stock is owned by hedge funds and other institutional investors.
NYSE:NEM opened at $56.37 on Thursday. The firm has a market capitalization of $45.05 billion, a PE ratio of 15.79 and a beta of 0.23. The business’s fifty day moving average price is $56.63 and its 200 day moving average price is $62.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 2.33. Newmont Co. has a 12 month low of $53.03 and a 12 month high of $75.31.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 23rd. Investors of record on Thursday, September 9th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.90%. The ex-dividend date was Wednesday, September 8th. Newmont’s dividend payout ratio (DPR) is presently 82.71%.
In other Newmont news, CFO Nancy Buese sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 30th. The stock was sold at an average price of $52.29, for a total transaction of $522,900.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer Cmil sold 597 shares of the firm’s stock in a transaction dated Tuesday, July 27th. The stock was sold at an average price of $61.00, for a total value of $36,417.00. Following the transaction, the executive vice president now directly owns 17,346 shares in the company, valued at approximately $1,058,106. The disclosure for this sale can be found here. Insiders sold 21,588 shares of company stock worth $1,177,877 in the last three months. 0.12% of the stock is currently owned by corporate insiders.
Several research firms have commented on NEM. National Bank Financial reduced their price objective on Newmont from C$108.00 to C$105.00 and set an “outperform” rating on the stock in a report on Friday, July 16th. KeyCorp started coverage on Newmont in a research note on Friday, September 24th. They set a “sector weight” rating for the company. TD Securities lowered Newmont from a “buy” rating to a “hold” rating and dropped their price target for the company from $74.00 to $70.00 in a research report on Friday, July 23rd. Canaccord Genuity decreased their price objective on Newmont from $74.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, July 23rd. Finally, UBS Group set a $64.00 price objective on Newmont and gave the company a “neutral” rating in a report on Friday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $72.00.
Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.
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