Bard Financial Services Inc. Buys 17,480 Shares of Newmont Co. (NYSE:NEM)

Bard Financial Services Inc. increased its position in Newmont Co. (NYSE:NEM) by 25.4% in the fourth quarter, HoldingsChannel reports. The firm owned 86,180 shares of the basic materials company’s stock after purchasing an additional 17,480 shares during the quarter. Bard Financial Services Inc.’s holdings in Newmont were worth $3,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in 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 in the last quarter. Waller Financial Planning Group Inc. purchased a new position in Newmont in the fourth quarter worth about $218,000. Everence Capital Management Inc. grew its holdings in Newmont by 90.0% during the fourth quarter. Everence Capital Management Inc. now owns 30,530 shares of the basic materials company’s stock valued at $1,136,000 after purchasing an additional 14,460 shares during the period. Confluence Investment Management LLC lifted its stake in shares of Newmont by 2.4% during the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after buying an additional 281 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Newmont by 5.4% in the third quarter. Tidal Investments LLC now owns 163,695 shares of the basic materials company’s stock worth $8,749,000 after buying an additional 8,412 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other Newmont news, Director Harry M. Iv Conger acquired 9,498 shares of the stock in a transaction on Wednesday, November 27th. The stock was purchased 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. Veritas upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Raymond James reduced their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Bernstein Bank raised their price target on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, Jefferies Financial Group lifted their price target on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.31.

Newmont Stock Down 0.4 %

Shares of NYSE NEM traded down $0.17 during mid-day trading on Monday, reaching $37.94. The company had a trading volume of 3,101,721 shares, compared to its average volume of 5,831,638. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market cap of $43.19 billion, a P/E ratio of -24.96, a PEG ratio of 0.35 and a beta of 0.50. The firm has a 50 day simple moving average of $41.55 and a two-hundred day simple moving average of $47.06.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates 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 negative net margin of 7.03% and a positive return on equity of 9.80%. The business’s quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. Sell-side analysts predict that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.64%. The ex-dividend date was Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Newmont Company 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.