Foundry Partners LLC Purchases 52,560 Shares of Newmont Co. (NYSE:NEM)

Foundry Partners LLC increased its position in Newmont Co. (NYSE:NEM) by 24.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 264,783 shares of the basic materials company’s stock after purchasing an additional 52,560 shares during the quarter. Foundry Partners LLC’s holdings in Newmont were worth $11,086,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American International Group Inc. lifted its position in Newmont by 24.8% in the fourth quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock worth $12,116,000 after purchasing an additional 58,217 shares during the period. Principal Financial Group Inc. raised its stake in Newmont by 34.1% during the fourth quarter. Principal Financial Group Inc. now owns 1,280,730 shares of the basic materials company’s stock worth $53,009,000 after acquiring an additional 325,320 shares in the last quarter. Premier Fund Managers Ltd acquired a new position in Newmont during the fourth quarter worth $1,276,000. Nations Financial Group Inc. IA ADV acquired a new position in Newmont during the fourth quarter worth $1,167,000. Finally, Virtu Financial LLC acquired a new position in Newmont during the fourth quarter worth $3,313,000. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares in the company, valued at $13,964,788.97. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares in the company, valued at approximately $13,964,788.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,000 shares of company stock worth $2,744,700. Insiders own 0.06% of the company’s stock.

Newmont Trading Down 1.8 %

NEM stock traded down $0.92 during midday trading on Friday, reaching $51.01. The stock had a trading volume of 1,206,955 shares, compared to its average volume of 10,539,157. The business has a fifty day simple moving average of $48.26 and a two-hundred day simple moving average of $41.88. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The firm has a market cap of $58.82 billion, a price-to-earnings ratio of -19.44, a PEG ratio of 0.39 and a beta of 0.47. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $53.88.

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

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.96%. Newmont’s payout ratio is -37.45%.

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. Sanford C. Bernstein dropped their price objective on Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Thursday, May 16th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday, August 29th. Jefferies Financial Group increased their price objective on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. BMO Capital Markets raised their target price on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Bank of America raised their target price on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

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.