Capital Investment Advisors LLC Boosts Stock Holdings in Newmont Co. (NYSE:NEM)

Capital Investment Advisors LLC lifted its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 16.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 699,493 shares of the basic materials company's stock after purchasing an additional 96,852 shares during the quarter. Capital Investment Advisors LLC owned about 0.06% of Newmont worth $33,772,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Park Avenue Securities LLC purchased a new position in shares of Newmont during the first quarter worth about $1,132,000. SOA Wealth Advisors LLC. boosted its position in shares of Newmont by 64.0% in 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 during the period. Beach Investment Counsel Inc. PA purchased a new position in Newmont during the 1st quarter worth approximately $1,667,000. UMB Bank n.a. increased its position in Newmont by 36.9% during the first quarter. UMB Bank n.a. now owns 4,540 shares of the basic materials company's stock worth $219,000 after buying an additional 1,223 shares during the period. Finally, Wedmont Private Capital lifted its stake in Newmont by 28.9% in the first quarter. Wedmont Private Capital now owns 11,613 shares of the basic materials company's stock valued at $561,000 after buying an additional 2,602 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NEM. TD Securities lowered their price target on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, February 26th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Raymond James reiterated an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $57.68.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the transaction, the director now owns 47,257 shares of the company's stock, valued at $2,432,790.36. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president now owns 77,526 shares in the company, valued at $4,193,381.34. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock valued at $381,539 in the last 90 days. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Up 1.8%

Shares of NEM stock traded up $0.94 during trading on Monday, reaching $53.30. The company's stock had a trading volume of 8,146,865 shares, compared to its average volume of 10,229,929. The business has a fifty day moving average price of $52.16 and a 200-day moving average price of $46.01. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a one year low of $36.86 and a one year high of $58.72. The company has a market cap of $59.32 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. Newmont's dividend payout ratio is currently 22.42%.

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.