Newmont Co. (NYSE:NEM) Shares Sold by Avanza Fonder AB

Avanza Fonder AB reduced its stake in Newmont Co. (NYSE:NEM - Free Report) by 19.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,849 shares of the basic materials company's stock after selling 22,855 shares during the period. Avanza Fonder AB's holdings in Newmont were worth $4,476,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NEM. Ibex Wealth Advisors acquired a new stake in Newmont in the first quarter valued at $4,323,000. GAMMA Investing LLC raised its stake in Newmont by 22.2% in the first quarter. GAMMA Investing LLC now owns 21,146 shares of the basic materials company's stock valued at $1,021,000 after buying an additional 3,840 shares in the last quarter. International Private Wealth Advisors LLC acquired a new stake in Newmont in the first quarter valued at $276,000. Tounjian Advisory Partners LLC acquired a new stake in Newmont in the first quarter valued at $1,073,000. Finally, Cetera Trust Company N.A raised its stake in Newmont by 78.9% in the first quarter. Cetera Trust Company N.A now owns 19,158 shares of the basic materials company's stock valued at $925,000 after buying an additional 8,448 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president now owns 77,526 shares of the company's stock, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the sale, the director now directly owns 45,180 shares in the company, valued at $2,443,786.20. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,154 shares of company stock valued at $381,539. 0.05% of the stock is owned by corporate insiders.

Newmont Stock Performance

Shares of NYSE NEM traded up $2.63 during midday trading on Thursday, reaching $55.94. 12,914,411 shares of the company were exchanged, compared to its average volume of 10,294,181. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 1 year low of $36.86 and a 1 year high of $58.72. The stock has a fifty day simple moving average of $52.74 and a 200 day simple moving average of $46.27. The stock has a market cap of $62.26 billion, a P/E ratio of 19.09, a PEG ratio of 0.41 and a beta of 0.31.

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

Newmont Announces Dividend

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's dividend payout ratio is presently 22.42%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NEM shares. Argus set a $63.00 price target on Newmont in a research note on Friday, April 25th. National Bankshares restated a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. Raymond James reaffirmed an "outperform" rating and set a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, UBS Group raised Newmont from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $50.00 to $60.00 in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.68.

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.