Private Harbour Investment Management & Counsel LLC Makes New $225,000 Investment in Newmont Corporation (NYSE:NEM)

Private Harbour Investment Management & Counsel LLC bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,651 shares of the basic materials company's stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NEM. Principal Securities Inc. grew its stake in shares of Newmont by 196.9% during the fourth quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company's stock worth $214,000 after purchasing an additional 3,813 shares during the period. First Trust Advisors LP grew its stake in shares of Newmont by 9.9% during the fourth quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock worth $3,575,000 after purchasing an additional 8,678 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Newmont by 773.7% during the fourth quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company's stock worth $2,511,000 after purchasing an additional 59,740 shares during the period. Y Intercept Hong Kong Ltd grew its stake in shares of Newmont by 253.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 216,251 shares of the basic materials company's stock worth $8,049,000 after purchasing an additional 155,078 shares during the period. Finally, Callan Family Office LLC acquired a new position in Newmont in the fourth quarter valued at about $481,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Argus set a $63.00 target price on Newmont in a research note on Friday, April 25th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Cfra Research raised Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Newmont presently has an average rating of "Moderate Buy" and a consensus price target of $57.68.

Newmont Stock Down 2.3%

Shares of Newmont stock traded down $1.34 during trading on Tuesday, reaching $58.12. The stock had a trading volume of 14,888,288 shares, compared to its average volume of 10,504,207. The company has a market capitalization of $64.69 billion, a price-to-earnings ratio of 13.03, a P/E/G ratio of 0.78 and a beta of 0.31. The stock has a fifty day moving average price of $54.02 and a two-hundred day moving average price of $47.23. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $60.31. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. Sell-side analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.72%. Newmont's payout ratio is presently 22.42%.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president now owns 77,526 shares in the company, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $51.48, for a total value of $106,923.96. Following the sale, the director now owns 47,257 shares in the company, valued at $2,432,790.36. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,154 shares of company stock worth $381,539. Corporate insiders own 0.05% of the company's stock.

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.