American Alpha Advisors LLC Makes New $231,000 Investment in Newmont Corporation (NYSE:NEM)

Key Points

• American Alpha Advisors LLC has made a new investment of approximately $231,000 in Newmont Corporation, acquiring 4,786 shares during the first quarter.
• Newmont reported earnings of $1.43 per share for the last quarter, significantly surpassing analyst expectations of $0.95, with revenues of $5.32 billion.
• The company will distribute a quarterly dividend of $0.25 per share, with an annual yield of 1.5%, payable on September 29th.

American Alpha Advisors LLC bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,786 shares of the basic materials company's stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management raised its stake in Newmont by 25.2% during the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock worth $46,000 after acquiring an additional 194 shares during the period. Ipswich Investment Management Co. Inc. raised its stake in Newmont by 1.4% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock worth $689,000 after acquiring an additional 200 shares during the period. SOA Wealth Advisors LLC. raised its stake in 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 acquiring an additional 201 shares during the period. Rothschild Investment LLC raised its stake in Newmont by 8.5% during the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after acquiring an additional 219 shares during the period. Finally, Twin Capital Management Inc. raised its stake in Newmont by 0.7% during the 1st quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock worth $1,873,000 after acquiring an additional 254 shares during the period. Institutional investors own 68.85% of the company's stock.

Newmont Trading Down 0.2%

NEM stock opened at $68.96 on Friday. The firm has a fifty day moving average price of $59.58 and a 200 day moving average price of $52.25. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $70.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The firm has a market cap of $75.75 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the firm posted $0.72 earnings per share. Newmont's revenue for the quarter was up 20.8% compared to the same quarter last year. Sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. Newmont's dividend payout ratio (DPR) is 17.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NEM. The Goldman Sachs Group reiterated a "neutral" rating and set a $60.90 price objective on shares of Newmont in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday, July 25th. Finally, Scotiabank lifted their price objective on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and an average target price of $64.58.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $132,221.82. Following the completion of the transaction, the director directly owned 41,026 shares of the company's stock, valued at $2,611,715.16. The trade was a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,246 shares of company stock valued at $1,373,251. 0.05% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.