Bessemer Group Inc. Boosts Holdings in Newmont Corporation $NEM

Bessemer Group Inc. grew its position in shares of Newmont Corporation (NYSE:NEM) by 9.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,934 shares of the basic materials company’s stock after purchasing an additional 1,143 shares during the period. Bessemer Group Inc.’s holdings in Newmont were worth $753,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Concord Wealth Partners raised its stake 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 purchasing an additional 385 shares during the period. Evermay Wealth Management LLC raised its stake in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Cloud Capital Management LLC purchased a new stake in shares of Newmont during the first quarter valued at approximately $26,000. Colonial Trust Advisors raised its stake in shares of Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 429 shares during the period. Finally, Financial Management Professionals Inc. raised its stake in shares of Newmont by 274.1% during the second quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 444 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on 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 transaction, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 11,172 shares of company stock valued at $808,863. Corporate insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Raymond James Financial set a $99.00 price target on shares of Newmont and gave the stock an “outperform” rating in a research report on Friday, October 24th. Stifel Canada raised shares of Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. UBS Group raised their price target on shares of Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $86.92.

Newmont Stock Performance

Newmont stock opened at $80.85 on Friday. The company has a market cap of $88.23 billion, a PE ratio of 12.55, a P/E/G ratio of 0.53 and a beta of 0.34. The company has a fifty day moving average price of $82.25 and a two-hundred day moving average price of $66.63. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58.

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

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont’s payout ratio is 15.53%.

About Newmont

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.