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DiNuzzo Private Wealth Inc. Raises Holdings in Newmont Corporation (NYSE:NEM)

Newmont logo with Basic Materials background

DiNuzzo Private Wealth Inc. lifted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 83,355.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,088 shares of the basic materials company's stock after buying an additional 60,016 shares during the quarter. Newmont comprises approximately 0.4% of DiNuzzo Private Wealth Inc.'s investment portfolio, making the stock its 27th largest holding. DiNuzzo Private Wealth Inc.'s holdings in Newmont were worth $2,901,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SOA Wealth Advisors LLC. increased its position in 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 buying an additional 201 shares in the last quarter. Nexus Investment Management ULC acquired a new stake in Newmont in the first quarter valued at approximately $31,000. Alpine Bank Wealth Management bought a new stake in shares of Newmont during the first quarter valued at approximately $32,000. PSI Advisors LLC raised its position in shares of Newmont by 195.5% during the first quarter. PSI Advisors LLC now owns 795 shares of the basic materials company's stock worth $38,000 after purchasing an additional 526 shares during the period. Finally, Grove Bank & Trust lifted its holdings in shares of Newmont by 84.0% in the 1st quarter. Grove Bank & Trust now owns 911 shares of the basic materials company's stock worth $44,000 after purchasing an additional 416 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Performance

Shares of Newmont stock traded down $0.20 during mid-day trading on Thursday, hitting $59.86. 5,387,327 shares of the stock were exchanged, compared to its average volume of 10,583,109. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $60.31. The company has a 50-day simple moving average of $54.47 and a 200 day simple moving average of $47.90. The company has a market capitalization of $66.62 billion, a P/E ratio of 13.42, a P/E/G ratio of 0.77 and a beta of 0.33. 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 (NYSE:NEM - Get Free Report) last issued 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 the consensus estimate of $4.82 billion. During the same period last year, the business posted $0.55 earnings per share. Sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio is presently 22.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NEM. Argus set a $63.00 price target on shares of Newmont in a research note on Friday, April 25th. Raymond James Financial reiterated an "outperform" rating and set a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. National Bankshares restated a "sector perform" rating on shares of Newmont in a report on Tuesday, June 24th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Finally, Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and an average price target of $59.11.

Check Out Our Latest Stock Analysis on NEM

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated 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 owned 74,526 shares in the company, valued at approximately $4,378,402.50. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock worth $679,813 over the last quarter. Company insiders own 0.05% of the company's stock.

Newmont Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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