Newmont Corporation (NYSE:NEM) Stock Position Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 162,063 shares of the basic materials company's stock after selling 41,140 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Newmont were worth $7,824,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in 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 worth $25,000 after acquiring an additional 201 shares in the last quarter. Cloud Capital Management LLC purchased a new position in shares of Newmont during the first quarter worth approximately $26,000. Private Trust Co. NA raised its stake in shares of 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 acquiring an additional 347 shares in the last quarter. Nexus Investment Management ULC purchased a new position in shares of Newmont during the first quarter worth approximately $31,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Newmont in the first quarter worth approximately $32,000. Institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the transaction, the director owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the company'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 value of $176,250.00. Following the sale, the executive vice president owned 74,526 shares in the company, valued at $4,378,402.50. The trade was a 3.87% decrease in their position. The disclosure for this sale can be found here. In 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 Stock Performance

Shares of NEM stock traded up $1.94 during midday trading on Tuesday, hitting $61.80. The company had a trading volume of 9,358,499 shares, compared to its average volume of 10,836,939. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $61.89. The stock has a market cap of $68.78 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.65 and a beta of 0.33. The company's 50 day simple moving average is $55.83 and its 200 day simple moving average is $49.80.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results 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 15.75% and a net margin of 25.77%. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the business earned $0.55 earnings per share. Research 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. Investors of record on Tuesday, May 27th were paid a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.62%. Newmont's payout ratio is currently 22.42%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NEM. Royal Bank Of Canada boosted their target price on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Raymond James Financial reiterated an "outperform" rating and issued a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. UBS Group lifted their target price on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Finally, CIBC set a $74.00 price target on Newmont and gave the company a "neutral" rating in a report on Tuesday, July 15th. One 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.49.

Newmont 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.