Worth Financial Advisory Group LLC Invests $249,000 in Newmont Corporation (NYSE:NEM)

Worth Financial Advisory Group LLC bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,155 shares of the basic materials company's stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NEM. Geode Capital Management LLC grew its position in shares of Newmont by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock valued at $919,484,000 after acquiring an additional 1,213,397 shares during the period. Norges Bank bought a new position in shares of Newmont during the 4th quarter valued at $626,074,000. Northern Trust Corp grew its holdings 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 valued at $474,263,000 after purchasing an additional 1,309,177 shares during the last quarter. Amundi grew its holdings in Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after acquiring an additional 1,507,708 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Newmont by 23.9% in the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after acquiring an additional 2,028,150 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $112,344.93. Following the completion of the transaction, the director now directly owns 45,180 shares in the company, valued at approximately $2,443,786.20. This represents a 4.40% 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, EVP Peter Toth sold 3,000 shares of the company'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 sale, the executive vice president now directly owns 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 sold 7,154 shares of company stock worth $381,539 in the last three months. Corporate insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price 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. Argus set a $63.00 price target on shares of Newmont in a research note on Friday, April 25th. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and boosted their target price for the company from $50.00 to $60.00 in a research report on Friday, April 11th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. Finally, National Bank Financial raised shares of Newmont to a "hold" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $57.68.

Newmont Stock Up 2.2%

NYSE NEM traded up $1.27 during trading on Monday, reaching $59.50. 12,272,394 shares of the company's stock traded hands, compared to its average volume of 10,473,411. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The firm has a market cap of $66.22 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 0.98 and a beta of 0.31. The company's 50 day simple moving average is $53.86 and its two-hundred day simple moving average is $47.03. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $60.30.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. As a group, sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 22.42%.

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.