Alps Advisors Inc. Grows Position in Newmont Corporation (NYSE:NEM)

Alps Advisors Inc. grew its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,436,547 shares of the basic materials company's stock after purchasing an additional 210,930 shares during the period. Newmont makes up 0.4% of Alps Advisors Inc.'s investment portfolio, making the stock its 21st largest position. Alps Advisors Inc. owned 0.13% of Newmont worth $69,356,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NEM. Brighton Jones LLC lifted 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 during the last quarter. Assetmark Inc. lifted its stake in Newmont by 185.9% during the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock worth $47,000 after acquiring an additional 820 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Newmont during the 4th quarter worth about $3,956,000. Raymond James Financial Inc. acquired a new position in Newmont during the 4th quarter worth about $35,117,000. Finally, Daiwa Securities Group Inc. lifted its stake in Newmont by 5.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 195,409 shares of the basic materials company's stock worth $7,273,000 after acquiring an additional 10,014 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NEM. Argus set a $63.00 target price on Newmont in a research note on Friday, April 25th. Stifel Nicolaus began coverage on Newmont in a research note on Wednesday. They set a "buy" rating and a $73.00 target price on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $60.90 target price on shares of Newmont in a research note on Tuesday. Stifel Canada raised Newmont to a "strong-buy" rating in a research note on Tuesday. Finally, Cfra Research raised Newmont to a "strong-buy" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.45.

Newmont Stock Up 0.6%

Shares of NEM traded up $0.34 during mid-day trading on Friday, reaching $60.12. The company's stock had a trading volume of 9,103,957 shares, compared to its average volume of 10,640,782. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $60.31. The stock has a market cap of $66.91 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The company's 50 day moving average is $55.34 and its 200 day moving average is $48.91.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the business posted $0.55 EPS. Equities analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were issued a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.66%. Newmont's payout ratio is currently 22.42%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president owned 77,526 shares in the company, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the 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 completion of the transaction, the director owned 43,103 shares in the company, valued at approximately $2,532,301.25. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,231 shares of company stock worth $679,813. Company 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.