Aaron Wealth Advisors LLC Makes New $206,000 Investment in Newmont Corporation (NYSE:NEM)

Aaron Wealth Advisors LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,270 shares of the basic materials company's stock, valued at approximately $206,000.

Other large investors also recently made changes to their positions in the company. SOA Wealth Advisors LLC. lifted its stake in shares of Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares during the period. Nexus Investment Management ULC purchased a new position in shares of Newmont in the 1st quarter worth $31,000. Alpine Bank Wealth Management purchased a new position in shares of Newmont in the 1st quarter worth $32,000. Redwood Park Advisors LLC purchased a new position in shares of Newmont in the 4th quarter worth $37,000. Finally, Promus Capital LLC purchased a new position in shares of Newmont in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Trading Down 0.3%

NYSE:NEM opened at $59.86 on Friday. The business's 50-day moving average is $54.67 and its two-hundred day moving average is $48.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $60.31. The firm has a market capitalization of $66.62 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 0.79 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last announced 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 company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same period last year, the firm earned $0.55 earnings per share. Research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.67%. Newmont's dividend payout ratio is presently 22.42%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Royal Bank Of Canada increased their target price on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. National Bank Financial raised Newmont to a "hold" rating in a research report on Friday, March 21st. Argus set a $63.00 target price on Newmont in a research report on Friday, April 25th. Finally, UBS Group increased their target price on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus price target of $59.11.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the completion of the sale, the executive vice president directly owned 74,526 shares in the company, valued at $4,378,402.50. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following 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 disclosure for this sale can be found here. Insiders have sold 12,231 shares of company stock valued at $679,813 over the last 90 days. 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.

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