Foster & Motley Inc. Makes New $217,000 Investment in Newmont Corporation (NYSE:NEM)

Key Points

• Foster & Motley Inc. acquired 4,488 shares of Newmont Corporation (NYSE:NEM) valued at approximately $217,000 in the first quarter, marking a new stake in the company.
• Analysts have set a consensus target price of $64.58 for Newmont shares, with several institutions issuing buy ratings following recent investment activity.
• Newmont announced a quarterly dividend of $0.25 per share, to be paid on September 29th, representing an annual yield of 1.6%.

Foster & Motley Inc. purchased a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 4,488 shares of the basic materials company's stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. raised its holdings in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 201 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in Newmont in the 1st quarter valued at approximately $26,000. Private Trust Co. NA increased its holdings in Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 347 shares during the last quarter. Nexus Investment Management ULC purchased a new position in Newmont in the 1st quarter valued at approximately $31,000. Finally, TCTC Holdings LLC boosted its position in Newmont by 123.1% in the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company's stock valued at $32,000 after buying an additional 362 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NEM. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada lifted their price objective on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Raymond James Financial boosted their price target on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Newmont has a consensus rating of "Moderate Buy" and a consensus target price of $64.58.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the sale, the director owned 43,103 shares of the company's stock, valued at $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the 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 sale, the executive vice president directly owned 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,154 shares of company stock valued at $572,889 in the last ninety days. 0.05% of the stock is currently owned by company insiders.

Newmont Price Performance

NEM stock traded up $0.51 during trading on Friday, reaching $62.61. 11,272,857 shares of the company were exchanged, compared to its average volume of 12,499,866. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $66.57. The company has a market cap of $68.77 billion, a P/E ratio of 11.24, a PEG ratio of 0.76 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The stock's 50 day moving average price is $58.10 and its 200 day moving average price is $51.35.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 earnings per share. As a group, analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.6%. Newmont's dividend payout ratio is 17.95%.

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.