5,947 Shares in Newmont Co. (NYSE:NEM) Acquired by ACT Wealth Management LLC

ACT Wealth Management LLC bought a new position in shares of Newmont Co. (NYSE:NEM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,947 shares of the basic materials company's stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Newmont in the fourth quarter valued at $626,074,000. Voloridge Investment Management LLC purchased a new stake in Newmont in the fourth quarter valued at $92,693,000. Capital Research Global Investors lifted its position in Newmont by 70.7% in the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after acquiring an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Newmont in the fourth quarter valued at $76,281,000. Finally, Invesco Ltd. raised its holdings in shares of Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after buying an additional 2,028,150 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Argus set a $63.00 target price on shares of Newmont in a report on Friday, April 25th. Royal Bank of Canada upped their target price on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday. Raymond James reaffirmed an "outperform" rating and issued a $66.00 target price on shares of Newmont in a report on Friday, April 25th. Finally, UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and upped their target price for the company from $50.00 to $60.00 in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and an average price target of $57.68.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the 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 sale, the director now directly owns 47,257 shares in the company, valued at $2,432,790.36. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were 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 now owns 77,526 shares in the company, valued at $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,154 shares of company stock valued at $381,539. Corporate insiders own 0.05% of the company's stock.

Newmont Price Performance

Newmont stock traded down $2.15 during mid-day trading on Friday, reaching $52.36. The company had a trading volume of 13,344,110 shares, compared to its average volume of 10,233,569. Newmont Co. has a 1 year low of $36.86 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company has a market capitalization of $58.28 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.41 and a beta of 0.31. The stock's 50-day simple moving average is $52.08 and its 200-day simple moving average is $45.91.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same period last year, the company posted $0.55 earnings per share. On average, equities analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

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.