Bay Capital Advisors LLC Invests $225,000 in Newmont Co. (NYSE:NEM)

Bay Capital Advisors LLC purchased a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,049 shares of the basic materials company's stock, valued at approximately $225,000.

Other institutional investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC lifted its position in Newmont by 117.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock worth $1,854,000 after buying an additional 18,722 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock worth $92,832,000 after acquiring an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company's stock worth $88,580,000 after purchasing an additional 865,213 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of Newmont during the fourth quarter valued at approximately $245,000. Finally, Moody National Bank Trust Division grew its stake in shares of Newmont by 13.6% during the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock valued at $822,000 after purchasing an additional 2,645 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares of the company's stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 in the last three months. Insiders own 0.05% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have issued reports on NEM shares. TD Securities reduced their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, February 26th. National Bank Financial raised Newmont to a "hold" rating in a research note on Friday, March 21st. The Goldman Sachs Group assumed coverage on Newmont in a report on Monday, January 13th. They issued a "buy" rating and a $47.20 price target on the stock. Royal Bank of Canada boosted their price objective on Newmont from $47.00 to $52.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. Finally, CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They issued an "underperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.16.

Newmont Stock Down 0.4 %

Newmont stock traded down $0.21 during midday trading on Friday, reaching $48.18. The stock had a trading volume of 7,370,702 shares, compared to its average volume of 9,705,767. The stock has a market capitalization of $54.31 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The firm's fifty day simple moving average is $44.65 and its 200-day simple moving average is $45.52. 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 1-year low of $35.37 and a 1-year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. As a group, analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.08%. Newmont's dividend payout ratio is 34.13%.

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.