Envestnet Portfolio Solutions Inc. Invests $423,000 in Newmont Corporation (NYSE:NEM)

Envestnet Portfolio Solutions Inc. bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,754 shares of the basic materials company's stock, valued at approximately $423,000.

Several other large investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its position in Newmont by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock valued at $919,484,000 after purchasing an additional 1,213,397 shares during the period. Norges Bank acquired a new stake in shares of Newmont in the 4th quarter valued at approximately $626,074,000. Northern Trust Corp boosted its stake in shares of Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after buying an additional 1,309,177 shares in the last quarter. Amundi grew its holdings in Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after acquiring an additional 1,507,708 shares during the period. Finally, Invesco Ltd. raised its position in Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after acquiring an additional 2,028,150 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Trading Down 4.1%

NYSE:NEM traded down $2.43 on Friday, reaching $56.76. The stock had a trading volume of 16,535,668 shares, compared to its average volume of 10,569,425. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $60.31. The company has a market cap of $63.17 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 0.75 and a beta of 0.31. The firm's fifty day moving average is $54.18 and its two-hundred day moving average is $47.57. 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 (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Equities analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is 22.42%.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on 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 directly owns 45,180 shares in the company, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the executive vice president now owns 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock valued at $381,539 over the last quarter. Company insiders own 0.05% of the company's stock.

Analyst Ratings Changes

NEM has been the topic of several research analyst reports. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. Scotiabank restated a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Finally, National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.38.

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.