Estabrook Capital Management Purchases 500 Shares of Newmont Co. (NYSE:NEM)

Estabrook Capital Management increased its holdings in shares of Newmont Co. (NYSE:NEM) by 23.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,672 shares of the basic materials company’s stock after purchasing an additional 500 shares during the period. Estabrook Capital Management’s holdings in Newmont were worth $112,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NEM. EverSource Wealth Advisors LLC increased its holdings in shares of Newmont by 206.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,559 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 2,397 shares during the last quarter. Itau Unibanco Holding S.A. boosted its position in Newmont by 9.5% during the second quarter. Itau Unibanco Holding S.A. now owns 21,588 shares of the basic materials company’s stock worth $904,000 after purchasing an additional 1,864 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of Newmont by 107.3% in the second quarter. 1832 Asset Management L.P. now owns 1,221 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 632 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in shares of Newmont by 17,241.7% in the second quarter. Frank Rimerman Advisors LLC now owns 10,405 shares of the basic materials company’s stock valued at $436,000 after purchasing an additional 10,345 shares during the period. Finally, ProShare Advisors LLC lifted its stake in shares of Newmont by 8.1% during the 2nd quarter. ProShare Advisors LLC now owns 191,204 shares of the basic materials company’s stock worth $8,006,000 after buying an additional 14,352 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $54.47 on Friday. The firm has a 50 day moving average of $50.10 and a 200-day moving average of $43.54. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $54.93. 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 $62.81 billion, a PE ratio of -20.40, a PEG ratio of 0.37 and a beta of 0.49.

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

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. Newmont’s payout ratio is currently -37.45%.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,000 shares of company stock valued at $2,744,700. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

NEM has been the topic of several research analyst reports. BMO Capital Markets increased their price target on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Bank of America boosted their price target on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $48.00 to $59.00 in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.62.

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.