79,238 Shares in Newmont Co. (NYSE:NEM) Purchased by Lesa Sroufe & Co

Lesa Sroufe & Co purchased a new position in shares of Newmont Co. (NYSE:NEM - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 79,238 shares of the basic materials company's stock, valued at approximately $3,826,000. Newmont accounts for about 3.8% of Lesa Sroufe & Co's portfolio, making the stock its 8th biggest holding.

A number of other hedge funds have also bought and sold shares of the business. SOA Wealth Advisors LLC. grew its stake in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares in the last quarter. Nexus Investment Management ULC acquired a new stake in Newmont during the 1st quarter worth approximately $31,000. Redwood Park Advisors LLC acquired a new stake in Newmont during the 4th quarter worth approximately $37,000. Promus Capital LLC acquired a new position in shares of Newmont in the 4th quarter worth approximately $38,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Newmont in the 4th quarter worth approximately $43,000. 68.85% of the stock is owned by institutional investors.

Newmont Stock Up 0.3%

NYSE NEM opened at $58.10 on Tuesday. The stock's 50 day moving average is $53.26 and its 200 day moving average is $46.55. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $36.86 and a 12 month high of $58.78. The stock has a market cap of $64.66 billion, a PE ratio of 19.83, a P/E/G ratio of 0.41 and a beta of 0.31.

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 for the quarter, beating the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion for 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 quarter in the previous year, the company posted $0.55 EPS. Research analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Analyst Ratings Changes

Several research firms have recently weighed in on NEM. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. National Bankshares restated a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Finally, Cfra Research raised shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.68.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred 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 directly owns 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the completion of the sale, the director now directly owns 47,257 shares in the company, valued at approximately $2,432,790.36. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock worth $381,539 in the last three months. Corporate insiders own 0.05% of the company's stock.

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.

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