Flagship Harbor Advisors LLC Makes New Investment in Newmont Corporation (NYSE:NEM)

Flagship Harbor Advisors LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,180 shares of the basic materials company’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC grew its holdings in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Newmont by 0.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 214,444 shares of the basic materials company’s stock worth $7,982,000 after acquiring an additional 1,357 shares during the period. National Pension Service boosted its position in shares of Newmont by 11.8% in the fourth quarter. National Pension Service now owns 2,831,544 shares of the basic materials company’s stock worth $105,390,000 after acquiring an additional 298,467 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in Newmont in the fourth quarter valued at approximately $79,000. Finally, Apriem Advisors purchased a new stake in Newmont in the fourth quarter valued at approximately $411,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. Cfra Research raised Newmont to a “strong-buy” rating in a research report on Friday, April 25th. Royal Bank Of Canada lifted their target price on Newmont from $52.00 to $66.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. Raymond James Financial reissued an “outperform” rating and set a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. Finally, Argus set a $63.00 price objective on Newmont in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $58.38.

Newmont Stock Performance

Newmont stock opened at $59.20 on Friday. The firm has a market capitalization of $65.89 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.76 and a beta of 0.31. Newmont Corporation has a one year low of $36.86 and a one year high of $60.31. The stock’s 50 day moving average price is $54.15 and its 200 day moving average price is $47.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98.

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

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.69%. Newmont’s dividend payout ratio is currently 22.42%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president now directly owns 77,526 shares of the company’s stock, valued at $4,193,381.34. This represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $112,344.93. Following the sale, the director now directly owns 45,180 shares of the company’s stock, valued at $2,443,786.20. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock valued at $381,539 in the last ninety days. Insiders own 0.05% of the company’s stock.

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.