45,702 Shares in Newmont Corporation (NYSE:NEM) Acquired by Brendel Financial Advisors LLC

Brendel Financial 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 & Exchange Commission. The firm bought 45,702 shares of the basic materials company's stock, valued at approximately $2,206,000.

Other institutional investors have also modified their holdings of the company. SOA Wealth Advisors LLC. lifted its holdings in shares of Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares in the last quarter. Nexus Investment Management ULC acquired a new stake in Newmont in the 1st quarter valued at approximately $31,000. PSI Advisors LLC raised its position in Newmont by 195.5% in the 1st quarter. PSI Advisors LLC now owns 795 shares of the basic materials company's stock valued at $38,000 after buying an additional 526 shares during the last quarter. Grove Bank & Trust raised its position in Newmont by 84.0% in the 1st quarter. Grove Bank & Trust now owns 911 shares of the basic materials company's stock valued at $44,000 after buying an additional 416 shares during the last quarter. Finally, Redwood Park Advisors LLC acquired a new stake in Newmont in the 4th quarter valued at approximately $37,000. Institutional investors own 68.85% of the company's stock.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the transaction, the executive vice president now owns 77,526 shares of the company's stock, valued at $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $381,539 in the last ninety days. 0.05% of the stock is owned by insiders.

Newmont Price Performance

Shares of NYSE:NEM traded up $1.27 during trading on Monday, reaching $59.50. 12,272,394 shares of the company traded hands, compared to its average volume of 10,473,433. The company's 50 day moving average is $53.86 and its two-hundred day moving average is $47.03. The firm has a market capitalization of $66.22 billion, a PE ratio of 13.34, a PEG ratio of 0.98 and a beta of 0.31. 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 Corporation has a 52 week low of $36.86 and a 52 week high of $60.30.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share 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 firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the company posted $0.55 EPS. As a group, sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. Newmont's dividend payout ratio is currently 22.42%.

Analysts Set New Price Targets

Several research analysts have weighed in on NEM shares. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Raymond James Financial reaffirmed an "outperform" rating and set a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Finally, Cfra Research raised Newmont to a "strong-buy" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $57.68.

About Newmont

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.