Recurrent Investment Advisors LLC Buys 23,591 Shares of Newmont Co. (NYSE:NEM)

Recurrent Investment Advisors LLC boosted its stake in Newmont Co. (NYSE:NEM) by 83.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,839 shares of the basic materials company’s stock after purchasing an additional 23,591 shares during the quarter. Recurrent Investment Advisors LLC’s holdings in Newmont were worth $1,929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. HighPoint Advisor Group LLC increased its position in shares of Newmont by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock valued at $223,000 after acquiring an additional 219 shares in the last quarter. Keel Point LLC boosted its stake in Newmont by 2.0% during the 4th quarter. Keel Point LLC now owns 14,774 shares of the basic materials company’s stock valued at $550,000 after purchasing an additional 287 shares during the last quarter. Howard Capital Management Inc. boosted its stake in Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 292 shares during the last quarter. Intact Investment Management Inc. increased its holdings in shares of Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 300 shares in the last quarter. Finally, Fiduciary Financial Group LLC raised its stake in shares of Newmont by 3.6% in the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 303 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NEM. TD Securities dropped their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. National Bankshares reaffirmed a “sector perform” rating on shares of Newmont in a report on Wednesday, April 23rd. Argus set a $63.00 price target on shares of Newmont in a research note on Friday, April 25th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Cfra Research upgraded shares of Newmont to a “strong-buy” rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.63.

Newmont Stock Performance

NEM opened at $48.58 on Thursday. The company has a 50 day simple moving average of $50.05 and a two-hundred day simple moving average of $44.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a market cap of $54.07 billion, a P/E ratio of 16.58, a PEG ratio of 0.41 and a beta of 0.31. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm posted $0.55 EPS. Equities analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.06%. Newmont’s payout ratio is 22.42%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares of the company’s stock, valued at approximately $3,782,051.46. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the transaction, the director now directly owns 47,257 shares of the company’s stock, valued at $2,432,790.36. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock valued at $328,840 over the last 90 days. Company insiders own 0.05% of the company’s stock.

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.