iA Global Asset Management Inc. Buys Shares of 47,938 Newmont Corporation (NYSE:NEM)

iA Global Asset Management Inc. bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,938 shares of the basic materials company's stock, valued at approximately $2,314,000.

A number of other hedge funds have also made changes to their positions in the company. Ipswich Investment Management Co. Inc. raised its holdings in shares of Newmont by 1.4% during the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after acquiring an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. raised its holdings in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 201 shares during the last quarter. Rothschild Investment LLC raised its holdings in shares of Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after acquiring an additional 219 shares during the last quarter. Twin Capital Management Inc. raised its holdings in shares of Newmont by 0.7% during the first quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock valued at $1,873,000 after acquiring an additional 254 shares during the last quarter. Finally, Prudent Man Advisors LLC increased its holdings in shares of Newmont by 1.8% in the first quarter. Prudent Man Advisors LLC now owns 15,517 shares of the basic materials company's stock valued at $749,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $60.90 price target on shares of Newmont in a report on Tuesday, July 8th. Cfra Research raised Newmont to a "strong-buy" rating in a report on Friday, April 25th. Stifel Nicolaus assumed coverage on Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price target for the company. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Finally, Raymond James Financial increased their price objective on Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $64.58.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of Newmont 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 completion of the transaction, the executive vice president directly owned 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $132,221.82. Following the completion of the transaction, the director owned 41,026 shares of the company's stock, valued at approximately $2,611,715.16. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,231 shares of company stock valued at $896,091. 0.05% of the stock is currently owned by company insiders.

Newmont Trading Up 1.1%

NEM opened at $67.98 on Thursday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $68.44. The business has a fifty day simple moving average of $58.92 and a 200-day simple moving average of $51.80. The firm has a market cap of $74.67 billion, a P/E ratio of 12.20, a P/E/G ratio of 0.82 and a beta of 0.30. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the business posted $0.72 earnings per share. The company's quarterly revenue was up 20.8% on a year-over-year basis. On average, equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. Newmont's dividend payout ratio (DPR) is 17.95%.

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.

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