Allen Capital Group LLC Makes New $291,000 Investment in Newmont Corporation (NYSE:NEM)

Allen Capital Group LLC acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,033 shares of the basic materials company's stock, valued at approximately $291,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. Harbour Investments Inc. raised its stake in Newmont by 24.9% during the fourth quarter. Harbour Investments Inc. now owns 3,827 shares of the basic materials company's stock worth $142,000 after acquiring an additional 764 shares during the period. Advisors Asset Management Inc. raised its stake in Newmont by 23.3% during the fourth quarter. Advisors Asset Management Inc. now owns 72,300 shares of the basic materials company's stock worth $2,691,000 after acquiring an additional 13,645 shares during the period. Horizon Investments LLC raised its stake in Newmont by 1.6% during the fourth quarter. Horizon Investments LLC now owns 19,885 shares of the basic materials company's stock worth $740,000 after acquiring an additional 317 shares during the period. Finally, Xponance Inc. grew its position in Newmont by 0.6% in the 4th quarter. Xponance Inc. now owns 166,085 shares of the basic materials company's stock worth $6,182,000 after purchasing an additional 1,001 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Down 0.8%

Shares of NEM traded down $0.45 during mid-day trading on Thursday, hitting $58.00. 13,667,467 shares of the company's stock were exchanged, compared to its average volume of 10,797,938. The firm has a fifty day moving average of $55.64 and a two-hundred day moving average of $49.34. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $61.17. The stock has a market cap of $64.55 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 0.66 and a beta of 0.33. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25.

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

Newmont Announces Dividend

The firm also recently declared 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 1.72%. Newmont's dividend payout ratio (DPR) is 22.42%.

Wall Street Analyst Weigh In

Several research firms have commented on NEM. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. UBS Group upped their target price on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. CIBC set a $74.00 target price on shares of Newmont and gave the stock a "neutral" rating in a research report on Tuesday. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Finally, Stifel Nicolaus initiated coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average target price of $62.49.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the firm'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 $162,270.00. Following the completion of the transaction, the executive vice president owned 77,526 shares in the company, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,231 shares of company stock worth $679,813. 0.05% of the stock is currently owned by company insiders.

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.