Cambridge Investment Research Advisors Inc. Grows Holdings in Newmont Corporation (NYSE:NEM)

Cambridge Investment Research Advisors Inc. grew its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 39.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,416 shares of the basic materials company's stock after purchasing an additional 52,433 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Newmont were worth $8,904,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock valued at $919,484,000 after buying an additional 1,213,397 shares during the period. Norges Bank purchased a new stake in shares of Newmont in the fourth quarter valued at approximately $626,074,000. Northern Trust Corp boosted its holdings in shares of Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after purchasing an additional 1,309,177 shares during the period. Amundi grew its stake in Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after purchasing an additional 1,507,708 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after purchasing an additional 2,028,150 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NEM shares. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. Royal Bank Of Canada upped their price objective on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Argus set a $63.00 target price on shares of Newmont in a research report on Friday, April 25th. National Bankshares restated a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $57.68.

Newmont Stock Down 0.1%

Shares of NEM stock opened at $58.06 on Thursday. The stock's fifty day moving average price is $54.07 and its 200 day moving average price is $47.31. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $60.31. The company has a market cap of $64.62 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 0.76 and a beta of 0.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the company earned $0.55 earnings per share. On average, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.72%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio is presently 22.42%.

Insiders Place Their Bets

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

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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