Beirne Wealth Consulting Services LLC Buys New Shares in Newmont Corporation (NYSE:NEM)

Beirne Wealth Consulting Services LLC bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,887 shares of the basic materials company's stock, valued at approximately $236,000.

A number of other hedge funds also recently modified their holdings of the stock. Ipswich Investment Management Co. Inc. raised its stake in Newmont by 1.4% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock worth $689,000 after purchasing an additional 200 shares in the last quarter. SOA Wealth Advisors LLC. raised its stake in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares in the last quarter. HighPoint Advisor Group LLC raised its stake in Newmont by 3.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock worth $223,000 after purchasing an additional 219 shares in the last quarter. Rothschild Investment LLC raised its stake in Newmont by 8.5% in the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after purchasing an additional 219 shares in the last quarter. Finally, Keel Point LLC raised its stake in Newmont by 2.0% in the 4th quarter. Keel Point LLC now owns 14,774 shares of the basic materials company's stock worth $550,000 after purchasing an additional 287 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

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

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the firm posted $0.55 EPS. As a group, 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 announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president directly owned 74,526 shares of the company's stock, valued at $4,378,402.50. The trade was a 3.87% 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 business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $122,023.75. Following the sale, the director directly owned 43,103 shares in the company, valued at $2,532,301.25. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock worth $679,813 over the last three months. Insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $60.90 price objective on shares of Newmont in a research note on Tuesday. Raymond James Financial restated an "outperform" rating and issued a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.45.

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.