Callan Family Office LLC Has $303,000 Holdings in Newmont Corporation (NYSE:NEM)

Callan Family Office LLC lessened its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 51.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,276 shares of the basic materials company's stock after selling 6,653 shares during the quarter. Callan Family Office LLC's holdings in Newmont were worth $303,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. grew its position in shares of Newmont by 64.0% in the first 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 during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Newmont in the first quarter valued at approximately $26,000. Private Trust Co. NA boosted its stake in shares of Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after buying an additional 347 shares during the period. Nexus Investment Management ULC bought a new stake in shares of Newmont in the first quarter valued at approximately $31,000. Finally, Alpine Bank Wealth Management bought a new stake in shares of Newmont in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Down 0.2%

Shares of NEM opened at $68.46 on Friday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $70.29. The stock has a market capitalization of $75.19 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 0.81 and a beta of 0.30. 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 stock has a fifty day moving average of $60.66 and a 200-day moving average of $52.92.

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

Newmont Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio is presently 17.95%.

Insider Activity at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president owned 58,736 shares of the company's stock, valued at $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,246 shares of company stock worth $1,373,251 over the last three months. Company insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent research reports. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. Stifel Nicolaus began coverage on Newmont in a research note on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price target for the company. Royal Bank Of Canada upped their target price on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Argus set a $63.00 target price on Newmont in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.58.

Newmont Company 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.

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