FNY Investment Advisers LLC Boosts Stake in Newmont Co. (NYSE:NEM)

FNY Investment Advisers LLC increased its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 847.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 22,972 shares of the basic materials company's stock after purchasing an additional 20,547 shares during the period. FNY Investment Advisers LLC's holdings in Newmont were worth $1,109,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NEM. SOA Wealth Advisors LLC. grew its holdings in shares of Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares in the last quarter. Nexus Investment Management ULC acquired a new position in shares of Newmont in the first quarter valued at approximately $31,000. Redwood Park Advisors LLC acquired a new position in shares of Newmont in the fourth quarter valued at approximately $37,000. CVA Family Office LLC grew its holdings in shares of Newmont by 54.1% in the first quarter. CVA Family Office LLC now owns 1,011 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 355 shares in the last quarter. Finally, Promus Capital LLC acquired a new position in shares of Newmont in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. National Bankshares restated a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. TD Securities lowered their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and three have assigned 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 $57.68.

Newmont Stock Up 3.5%

Shares of NYSE:NEM opened at $57.87 on Monday. The firm has a 50 day simple moving average of $53.00 and a 200-day simple moving average of $46.44. Newmont Co. has a twelve month low of $36.86 and a twelve month high of $58.72. The company has a market capitalization of $64.41 billion, a PE ratio of 19.75, a P/E/G ratio of 0.41 and a beta of 0.31. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, equities analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.73%. Newmont's dividend payout ratio (DPR) is 22.42%.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the sale, the executive vice president now owns 77,526 shares in the company, valued at $4,193,381.34. This represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the sale, the director now owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $381,539 in the last 90 days. 0.05% of the stock is owned by insiders.

About Newmont

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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