AE Wealth Management LLC Grows Position in Newmont Corporation (NYSE:NEM)

AE Wealth Management LLC lifted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 17.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 339,756 shares of the basic materials company's stock after buying an additional 51,369 shares during the quarter. AE Wealth Management LLC's holdings in Newmont were worth $16,403,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Newmont in the 4th quarter worth approximately $626,074,000. Voloridge Investment Management LLC bought a new position in Newmont in the fourth quarter worth approximately $92,693,000. Capital Research Global Investors raised its stake in shares of Newmont by 70.7% during the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after acquiring an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Newmont during the 4th quarter valued at $76,281,000. Finally, Invesco Ltd. raised its stake in 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. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Price Performance

NYSE:NEM traded up $4.24 during trading hours on Friday, hitting $65.75. 30,891,639 shares of the stock were exchanged, compared to its average volume of 11,595,961. The firm's fifty day moving average price is $57.05 and its 200 day moving average price is $50.54. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $66.57. The company has a market cap of $73.18 billion, a P/E ratio of 11.80, a P/E/G ratio of 0.96 and a beta of 0.33. 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 issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a return on equity of 18.13% and a net margin of 30.50%. The firm's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. As a group, equities research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio is currently 22.42%.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. This trade represents a 4.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $176,250.00. Following the transaction, the executive vice president directly owned 74,526 shares in the company, valued at approximately $4,378,402.50. The trade was a 3.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on NEM. CIBC set a $74.00 price objective on shares of Newmont and gave the company a "neutral" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group reissued a "neutral" rating and issued a $60.90 price objective on shares of Newmont in a report on Tuesday, July 8th. Stifel Nicolaus initiated coverage on Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price target for the company. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research 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 research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.49.

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.