Newmont Corporation (NYSE:NEM) Shares Purchased by Financial Sense Advisors Inc.

Financial Sense Advisors Inc. lifted its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 136.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 272,700 shares of the basic materials company's stock after purchasing an additional 157,443 shares during the period. Newmont accounts for 3.7% of Financial Sense Advisors Inc.'s holdings, making the stock its 8th biggest holding. Financial Sense Advisors Inc.'s holdings in Newmont were worth $13,166,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NEM. Norges Bank purchased a new position in Newmont during the 4th quarter valued at about $626,074,000. Voloridge Investment Management LLC acquired a new position in Newmont during the 4th quarter valued at about $92,693,000. Capital Research Global Investors lifted its stake in shares of Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after purchasing an additional 2,338,953 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Newmont during the fourth quarter worth about $76,281,000. Finally, Invesco Ltd. grew its holdings in Newmont by 23.9% in the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after buying an additional 2,028,150 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Trading Up 3.2%

Shares of NEM stock traded up $1.94 during trading hours on Tuesday, reaching $61.80. The company's stock had a trading volume of 9,358,499 shares, compared to its average volume of 10,859,930. The stock has a market capitalization of $68.78 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.67 and a beta of 0.33. The firm's fifty day simple moving average is $55.83 and its 200 day simple moving average is $49.80. Newmont Corporation has a one year low of $36.86 and a one year high of $61.89. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM - Get Free Report) last released 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. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The firm had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the business posted $0.55 earnings per share. Equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's payout ratio is currently 22.42%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business'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 value of $122,023.75. Following the transaction, the director owned 43,103 shares in the company, valued at $2,532,301.25. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus began coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price for the company. Scotiabank restated a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Raymond James Financial reissued an "outperform" rating and issued a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $60.90 price target on shares of Newmont in a research note on Tuesday, July 8th. Finally, Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.