Bayforest Capital Ltd Has $930,000 Holdings in Newmont Corporation $NEM

Bayforest Capital Ltd increased its position in shares of Newmont Corporation (NYSE:NEM) by 80.8% during the second quarter, Holdings Channel reports. The fund owned 15,964 shares of the basic materials company’s stock after acquiring an additional 7,135 shares during the quarter. Bayforest Capital Ltd’s holdings in Newmont were worth $930,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Concord Wealth Partners raised its holdings in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares during the period. Cloud Capital Management LLC acquired a new position in Newmont in the 1st quarter valued at approximately $26,000. Colonial Trust Advisors increased its stake in Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after buying an additional 429 shares during the period. Financial Management Professionals Inc. increased its stake in Newmont by 274.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after buying an additional 444 shares during the period. Finally, ST Germain D J Co. Inc. increased its stake in Newmont by 92.3% in the 2nd quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company’s stock valued at $36,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director owned 36,869 shares of the company’s stock, valued at $3,133,496.31. The trade was a 5.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Shares of Newmont stock opened at $89.36 on Tuesday. The firm has a fifty day moving average price of $77.25 and a two-hundred day moving average price of $62.93. The company has a market cap of $98.16 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 0.94 and a beta of 0.34. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $89.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. Analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Wall Street Analyst Weigh In

Several research firms have weighed in on NEM. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. UBS Group boosted their price target on Newmont from $70.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, September 19th. CIBC set a $112.00 price objective on Newmont and gave the stock an “outperformer” rating in a report on Friday. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday. Finally, BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Four research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.18.

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.