Central Valley Advisors LLC Purchases Shares of 35,755 Newmont Co. (NYSE:NEM)

Central Valley Advisors LLC bought a new stake in Newmont Co. (NYSE:NEM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 35,755 shares of the basic materials company's stock, valued at approximately $1,726,000.

Several other hedge funds have also modified their holdings of NEM. SOA Wealth Advisors LLC. raised its stake in shares of Newmont by 64.0% during 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 period. Nexus Investment Management ULC purchased a new stake in Newmont during the 1st quarter worth $31,000. Redwood Park Advisors LLC acquired a new position in Newmont in the 4th quarter worth $37,000. Promus Capital LLC acquired a new position in Newmont in the 4th quarter worth $38,000. Finally, Kestra Investment Management LLC purchased a new position in Newmont in the 4th quarter valued at about $43,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Finally, UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and upped their price target for the company from $50.00 to $60.00 in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.68.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the sale, the director now owns 45,180 shares of the company's stock, valued at $2,443,786.20. This represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated 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 directly owns 77,526 shares in the company, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock valued at $381,539 in the last quarter. Company insiders own 0.05% of the company's stock.

Newmont Stock Performance

NYSE NEM traded down $0.78 during trading hours on Tuesday, reaching $52.51. The company's stock had a trading volume of 10,537,445 shares, compared to its average volume of 10,231,326. The stock has a market cap of $58.44 billion, a PE ratio of 17.92, a PEG ratio of 0.41 and a beta of 0.31. The business has a 50-day simple moving average of $52.25 and a 200 day simple moving average of $46.08. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last issued 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. Newmont had a return on equity of 13.52% and a net margin of 17.92%. 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 business earned $0.55 EPS. Equities research analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. 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.