Newmont Co. (NYSE:NEM) Stock Holdings Lessened by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC reduced its holdings in Newmont Co. (NYSE:NEM - Free Report) by 90.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,871 shares of the basic materials company's stock after selling 16,958 shares during the period. Harbor Investment Advisory LLC's holdings in Newmont were worth $90,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Nexus Investment Management ULC acquired a new position in Newmont in the 1st quarter valued at approximately $31,000. HHM Wealth Advisors LLC raised its position in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Redwood Park Advisors LLC bought a new stake in shares of Newmont during the fourth quarter worth $37,000. Promus Capital LLC bought a new stake in shares of Newmont during the fourth quarter worth $38,000. Finally, Kestra Investment Management LLC bought a new stake in Newmont in the fourth quarter valued at about $43,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NEM. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Raymond James restated an "outperform" rating and set a $66.00 price objective on shares of Newmont in a research note on Friday, April 25th. Finally, UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus price target of $57.68.

Insider Activity

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

Newmont Stock Performance

NEM stock traded down $0.82 during midday trading on Thursday, hitting $54.46. 13,469,457 shares of the stock traded hands, compared to its average volume of 10,203,636. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The stock's fifty day simple moving average is $51.96 and its 200-day simple moving average is $45.83. The firm has a market cap of $60.61 billion, a P/E ratio of 18.59, a PEG ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period in the previous year, the business posted $0.55 earnings per share. On average, analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

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

Newmont Company 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.