Empirical Finance LLC Raises Stock Position in Newmont Co. (NYSE:NEM)

Empirical Finance LLC boosted its holdings in Newmont Co. (NYSE:NEM) by 5.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 29,901 shares of the basic materials company’s stock after buying an additional 1,506 shares during the period. Empirical Finance LLC’s holdings in Newmont were worth $1,072,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NEM. Life Planning Partners Inc purchased a new position in shares of Newmont during the fourth quarter valued at about $26,000. Manchester Capital Management LLC grew its position in shares of Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 397 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of Newmont during the fourth quarter valued at about $34,000. Advantage Trust Co purchased a new position in shares of Newmont during the fourth quarter valued at about $41,000. Finally, Rise Advisors LLC grew its position in shares of Newmont by 2,373.2% during the first quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 973 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

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

Newmont Trading Up 0.7 %

Shares of Newmont stock traded up $0.34 on Friday, hitting $47.51. 7,324,276 shares of the company traded hands, compared to its average volume of 11,576,785. The company has a market cap of $54.79 billion, a PE ratio of -17.82, a PEG ratio of 0.38 and a beta of 0.47. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $48.02. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $42.29 and its 200-day moving average price is $38.30.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. Newmont’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Equities research analysts predict that Newmont Co. will post 2.48 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is -37.45%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NEM. Jefferies Financial Group raised their price objective on Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday. Sanford C. Bernstein dropped their price target on Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday, May 16th. National Bank Financial lowered Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday. Finally, Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.21.

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.