Cassaday & Co Wealth Management LLC Takes Position in Newmont Corporation (NYSE:NEM)

Cassaday & Co Wealth Management LLC bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,023 shares of the basic materials company's stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. SOA Wealth Advisors LLC. lifted its position in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in Newmont in the first quarter valued at $26,000. Private Trust Co. NA raised its position in 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 purchasing an additional 347 shares during the period. Nexus Investment Management ULC purchased a new stake in Newmont in the first quarter valued at $31,000. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Newmont in the first quarter valued at $32,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Argus set a $63.00 price target on Newmont in a report on Friday, April 25th. The Goldman Sachs Group reissued a "neutral" rating and set a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. Stifel Canada raised Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and an average price target of $62.49.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director directly owned 43,103 shares in the company, valued at $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the completion of the sale, the executive vice president owned 74,526 shares in the company, valued at approximately $4,378,402.50. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,231 shares of company stock worth $679,813 over the last three months. 0.05% of the stock is owned by insiders.

Newmont Stock Up 2.9%

Shares of Newmont stock traded up $1.67 on Monday, hitting $59.86. 11,228,446 shares of the company traded hands, compared to its average volume of 10,842,801. The company has a 50-day moving average price of $55.83 and a 200 day moving average price of $49.80. 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 12-month low of $36.86 and a 12-month high of $61.17. The company has a market cap of $66.62 billion, a PE ratio of 13.42, a PEG ratio of 0.65 and a beta of 0.33.

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, topping analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter in the previous year, the business earned $0.55 EPS. Sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were paid 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 1.67%. Newmont's dividend payout ratio (DPR) 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.