Radnor Capital Management LLC Buys 1,650 Shares of Newmont Co. (NYSE:NEM)

Radnor Capital Management LLC raised its stake in Newmont Co. (NYSE:NEM) by 9.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,945 shares of the basic materials company’s stock after purchasing an additional 1,650 shares during the quarter. Radnor Capital Management LLC’s holdings in Newmont were worth $963,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NEM. Van ECK Associates Corp increased its holdings in shares of Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after acquiring an additional 797,445 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Newmont by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock valued at $919,484,000 after purchasing an additional 1,213,397 shares during the last quarter. Norges Bank bought a new position in shares of Newmont in the fourth quarter valued at about $626,074,000. Northern Trust Corp lifted its stake in shares of Newmont by 11.5% during the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock worth $474,263,000 after buying an additional 1,309,177 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after buying an additional 1,507,708 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the executive vice president now owns 77,526 shares of the company’s stock, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $112,344.93. Following the transaction, the director now directly owns 45,180 shares of the company’s stock, valued at $2,443,786.20. This trade represents a 4.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,154 shares of company stock worth $381,539. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Performance

NYSE:NEM opened at $52.36 on Friday. The stock has a fifty day moving average price of $52.16 and a 200-day moving average price of $45.97. The company has a market cap of $58.28 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 0.41 and a beta of 0.31. 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 fifty-two week low of $36.86 and a fifty-two week high of $58.72.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.91%. Newmont’s payout ratio is 22.42%.

Analysts Set New Price Targets

A number of research analysts recently commented on NEM shares. Raymond James reiterated an “outperform” rating and issued a $66.00 price target on shares of Newmont in a research note on Friday, April 25th. BMO Capital Markets reiterated an “outperform” rating on shares of Newmont in a research note on Thursday, April 24th. Royal Bank of Canada lifted their price target on Newmont from $52.00 to $66.00 and gave the stock a “sector perform” rating in a report on Wednesday. TD Securities reduced their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. Finally, Cfra Research upgraded Newmont to a “strong-buy” rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.68.

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.