Ibex Wealth Advisors Purchases New Shares in Newmont Co. (NYSE:NEM)

Ibex Wealth Advisors acquired a new position in shares of Newmont Co. (NYSE:NEM - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 89,542 shares of the basic materials company's stock, valued at approximately $4,323,000.

Other institutional investors also recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its position in shares of Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares in the last quarter. HighPoint Advisor Group LLC increased 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 worth $223,000 after buying an additional 219 shares in the last quarter. Rothschild Investment LLC raised its stake in Newmont by 8.5% in the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after purchasing an additional 219 shares during the last quarter. Keel Point LLC lifted its stake in shares of Newmont by 2.0% during the fourth quarter. Keel Point LLC now owns 14,774 shares of the basic materials company's stock valued at $550,000 after buying an additional 287 shares during the period. Finally, Howard Capital Management Inc. lifted its stake in shares of Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock worth $210,000 after purchasing an additional 292 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Up 1.4%

Shares of Newmont stock traded up $0.72 during trading on Wednesday, reaching $53.28. The company had a trading volume of 11,397,770 shares, compared to its average volume of 10,263,814. The company has a market cap of $59.30 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The firm's fifty day moving average is $52.33 and its 200-day moving average is $46.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating 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 the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is 22.42%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Argus set a $63.00 price target on shares of Newmont in a report on Friday, April 25th. TD Securities dropped their price target on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. Raymond James reaffirmed an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a research note on Friday, April 25th. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Finally, National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Newmont presently has an average rating of "Moderate Buy" and a consensus price target of $57.68.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the completion of the sale, the director now directly owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. This represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction 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 trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock worth $381,539 in the last three months. 0.05% of the stock is owned by company insiders.

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.