Bard Financial Services Inc. Grows Stake in Newmont Co. (NYSE:NEM)

Bard Financial Services Inc. increased its position in Newmont Co. (NYSE:NEM - Free Report) by 25.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,180 shares of the basic materials company's stock after buying an additional 17,480 shares during the period. Bard Financial Services Inc.'s holdings in Newmont were worth $3,208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NEM. Zurich Insurance Group Ltd FI bought a new stake in shares of Newmont during the third quarter valued at approximately $98,011,000. Nordea Investment Management AB increased its stake in Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock valued at $92,832,000 after purchasing an additional 1,578,545 shares in the last quarter. FMR LLC increased its stake in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company's stock valued at $376,953,000 after purchasing an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Newmont by 262.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company's stock valued at $80,960,000 after buying an additional 1,096,905 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Newmont by 29.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company's stock valued at $197,976,000 after buying an additional 1,074,623 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

NYSE:NEM traded down $0.39 during trading hours on Monday, reaching $37.72. The stock had a trading volume of 8,117,427 shares, compared to its average volume of 7,557,662. The stock has a market cap of $42.94 billion, a P/E ratio of -24.82, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. The stock has a 50 day simple moving average of $41.34 and a 200 day simple moving average of $47.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company's revenue was up 84.7% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. On average, research analysts forecast that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is presently -65.79%.

Insider Activity at Newmont

In related news, Director Harry M. Iv Conger bought 9,498 shares of the business's stock in a transaction on Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the purchase, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Scotiabank lowered shares of Newmont from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Raymond James dropped their target price on Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, November 25th. Bernstein Bank upped their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. UBS Group cut Newmont from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Cibc World Mkts lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.31.

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.