Blue Capital Inc. Takes Position in Newmont Corporation $NEM

Blue Capital Inc. bought a new position in Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 45,765 shares of the basic materials company’s stock, valued at approximately $2,666,000. Newmont accounts for approximately 1.9% of Blue Capital Inc.’s investment portfolio, making the stock its 14th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in shares of 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 acquiring an additional 1,847 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in Newmont in the first quarter valued at approximately $535,000. Boston Partners purchased a new stake in shares of Newmont during the first quarter valued at approximately $5,349,000. Holderness Investments Co. bought a new position in shares of Newmont in the first quarter worth approximately $217,000. Finally, Sienna Gestion purchased a new position in shares of Newmont in the first quarter worth $1,186,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the transaction, the director owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,240 shares of company stock worth $943,985 over the last quarter. Insiders own 0.05% of the company’s stock.

Newmont Price Performance

NYSE NEM opened at $98.21 on Friday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $102.13. The business’s fifty day moving average price is $87.86 and its 200-day moving average price is $73.94. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The stock has a market capitalization of $107.17 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.69 and a beta of 0.41.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the company posted $0.81 EPS. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, equities analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio is currently 15.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. BNP Paribas lowered shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a report on Friday, December 5th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Raymond James Financial set a $99.00 price objective on Newmont and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $120.00 price objective on shares of Newmont in a research report on Sunday, December 7th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Buy” and an average target price of $96.37.

Newmont Company 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.