Janney Montgomery Scott LLC Purchases 88,900 Shares of Newmont Co. (NYSE:NEM)

Janney Montgomery Scott LLC boosted its holdings in shares of Newmont Co. (NYSE:NEMFree Report) by 38.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 321,622 shares of the basic materials company’s stock after acquiring an additional 88,900 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Newmont were worth $11,527,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NEM. Alpine Global Management LLC acquired a new position in Newmont in the 3rd quarter valued at $347,000. Harbour Investments Inc. raised its stake in shares of Newmont by 81.7% in the third quarter. Harbour Investments Inc. now owns 6,504 shares of the basic materials company’s stock valued at $240,000 after purchasing an additional 2,924 shares in the last quarter. Sprott Inc. raised its stake in shares of Newmont by 8.9% in the 3rd quarter. Sprott Inc. now owns 171,699 shares of the basic materials company’s stock valued at $6,181,000 after buying an additional 13,993 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Newmont by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 85,377 shares of the basic materials company’s stock worth $3,155,000 after acquiring an additional 9,278 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Newmont during the 3rd quarter valued at about $397,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 2.4 %

Shares of NYSE NEM opened at $44.51 on Monday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $45.92. The firm’s 50-day moving average is $41.97 and its 200-day moving average is $38.16. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEMGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. Equities analysts expect that Newmont Co. will post 2.48 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.25%. The ex-dividend date was Tuesday, June 4th. Newmont’s payout ratio is -37.45%.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the sale, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of a number of analyst reports. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Sanford C. Bernstein lowered their price target on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Thursday, May 16th. BMO Capital Markets cut their price objective on Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. Finally, Scotiabank upped their target price on shares of Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.29.

Get Our Latest Stock Analysis on NEM

About Newmont

(Free Report)

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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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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