DekaBank Deutsche Girozentrale Purchases 317,931 Shares of Newmont Corporation (NYSE:NEM)

DekaBank Deutsche Girozentrale lifted its stake in Newmont Corporation (NYSE:NEM - Free Report) by 32.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,303,746 shares of the basic materials company's stock after acquiring an additional 317,931 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.12% of Newmont worth $63,102,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. SOA Wealth Advisors LLC. grew its stake 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 worth $25,000 after acquiring an additional 201 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in shares of Newmont in the first quarter worth $26,000. Private Trust Co. NA boosted its stake in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after buying an additional 347 shares in the last quarter. Nexus Investment Management ULC acquired a new stake in Newmont during the first quarter worth $31,000. Finally, Alpine Bank Wealth Management acquired a new stake in Newmont during the first quarter worth $32,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Royal Bank Of Canada lifted their price target 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. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Argus set a $63.00 price target on shares of Newmont in a research note on Friday, April 25th. Finally, National Bankshares reissued a "sector perform" rating on shares of Newmont in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.45.

Insider Buying and Selling

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

Newmont Trading Up 0.6%

Newmont stock traded up $0.34 during trading hours on Friday, reaching $60.12. 9,103,957 shares of the company's stock traded hands, compared to its average volume of 10,654,017. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $60.31. The firm has a market capitalization of $66.91 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.68 and a beta of 0.33. The firm's 50 day moving average is $55.34 and its 200-day moving average is $48.99.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The company had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same period in the prior year, the business posted $0.55 EPS. On average, analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.66%. Newmont's payout ratio is 22.42%.

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.