Farther Finance Advisors LLC Purchases 3,575 Shares of Newmont Co. (NYSE:NEM)

Farther Finance Advisors LLC grew its position in Newmont Co. (NYSE:NEM) by 80.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,007 shares of the basic materials company’s stock after acquiring an additional 3,575 shares during the quarter. Farther Finance Advisors LLC’s holdings in Newmont were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of NEM. Graypoint LLC purchased a new stake in shares of Newmont in the 2nd quarter worth $302,000. Van ECK Associates Corp boosted its position in Newmont by 2.6% during the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after purchasing an additional 1,289,084 shares in the last quarter. Duncker Streett & Co. Inc. boosted its position in Newmont by 23.3% during the second quarter. Duncker Streett & Co. Inc. now owns 5,284 shares of the basic materials company’s stock worth $221,000 after purchasing an additional 1,000 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Newmont by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 291,119 shares of the basic materials company’s stock worth $12,189,000 after purchasing an additional 14,912 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of Newmont in the second quarter valued at approximately $977,000. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at $15,420,830.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by company insiders.

Newmont Price Performance

Shares of Newmont stock opened at $51.61 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $59.51 billion, a price-to-earnings ratio of -19.33, a P/E/G ratio of 0.39 and a beta of 0.47. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $53.88. The firm’s 50-day moving average price is $48.06 and its two-hundred day moving average price is $41.81.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. Newmont’s revenue was up 64.1% compared to the same quarter last year. On average, equities analysts predict that Newmont Co. will post 2.82 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.94%. Newmont’s dividend payout ratio is currently -37.45%.

Wall Street Analyst Weigh In

A number of research firms have commented on NEM. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. BMO Capital Markets upped their target price on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Bank of America upped their price objective on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and raised their price objective for the company from $40.00 to $50.00 in a research note on Monday, June 17th. Finally, JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $51.46.

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.