Bard Financial Services Inc. Has $3.21 Million Position in Newmont Co. (NYSE:NEM)

Bard Financial Services Inc. boosted its holdings in Newmont Co. (NYSE:NEM) by 25.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Newmont by 1.4% in the third quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after purchasing an additional 326,243 shares during the period. Legal & General Group Plc increased its holdings in shares of Newmont by 1.4% during the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after acquiring an additional 109,084 shares in the last quarter. FMR LLC increased its holdings in shares of Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after purchasing an additional 545,903 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Newmont by 29.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company’s stock worth $197,976,000 after purchasing an additional 1,074,623 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

NYSE NEM traded down $0.17 during trading hours on Monday, hitting $37.94. The company had a trading volume of 3,101,721 shares, compared to its average volume of 5,831,638. The firm has a 50 day simple moving average of $41.55 and a 200 day simple moving average of $47.06. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The firm has a market capitalization of $43.19 billion, a price-to-earnings ratio of -24.96, a PEG ratio of 0.35 and a beta of 0.50. 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 (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS 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 the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. Equities research analysts expect that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Announces Dividend

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

Insider Activity

In other news, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the transaction, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of several research reports. CLSA began coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $59.00 to $55.00 in a report on Friday, October 25th. Finally, Royal Bank of Canada decreased their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.31.

About Newmont

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.