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

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.

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

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.