GAMMA Investing LLC Grows Stock Position in Newmont Co. (NYSE:NEM)

GAMMA Investing LLC grew its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 5,799.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,020,929 shares of the basic materials company's stock after buying an additional 1,003,623 shares during the quarter. GAMMA Investing LLC owned 0.09% of Newmont worth $49,290,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. HighPoint Advisor Group LLC raised its position in Newmont by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock valued at $223,000 after purchasing an additional 219 shares during the period. Keel Point LLC boosted its stake in Newmont by 2.0% during the fourth quarter. Keel Point LLC now owns 14,774 shares of the basic materials company's stock worth $550,000 after buying an additional 287 shares during the period. Howard Capital Management Inc. increased its position in Newmont by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock valued at $210,000 after acquiring an additional 292 shares during the last quarter. Intact Investment Management Inc. raised its stake in shares of Newmont by 21.4% in the fourth quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock valued at $63,000 after acquiring an additional 300 shares during the period. Finally, Conning Inc. lifted its holdings in shares of Newmont by 6.0% in the 4th quarter. Conning Inc. now owns 5,460 shares of the basic materials company's stock worth $203,000 after acquiring an additional 311 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $112,344.93. Following the sale, the director now owns 45,180 shares of the company's stock, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president now owns 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,154 shares of company stock worth $381,539. 0.05% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NEM shares. Cfra Research raised Newmont to a "strong-buy" rating in a research note on Friday, April 25th. TD Securities cut their price target on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, February 26th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. Royal Bank of Canada boosted their target price on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Finally, National Bankshares restated a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.68.

Newmont Price Performance

Shares of Newmont stock traded down $0.82 during trading hours on Thursday, reaching $54.46. The stock had a trading volume of 13,442,708 shares, compared to its average volume of 10,203,536. The firm has a market capitalization of $60.61 billion, a PE ratio of 18.59, a PEG ratio of 0.41 and a beta of 0.31. Newmont Co. has a twelve month low of $36.86 and a twelve month high of $58.72. The stock's 50 day moving average is $51.96 and its 200 day moving average is $45.83. 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 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 net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. Equities analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.84%. Newmont's payout ratio is 22.42%.

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.