Independent Solutions Wealth Management LLC Grows Stock Position in Newmont Corporation (NYSE:NEM)

Independent Solutions Wealth Management LLC increased its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 71.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,048 shares of the basic materials company's stock after purchasing an additional 6,677 shares during the quarter. Independent Solutions Wealth Management LLC's holdings in Newmont were worth $775,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NEM. Brighton Jones LLC increased its holdings in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after purchasing an additional 1,847 shares during the last quarter. Principal Securities Inc. grew its holdings in Newmont by 196.9% in the 4th quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company's stock valued at $214,000 after buying an additional 3,813 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Newmont by 329.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,972 shares of the basic materials company's stock worth $73,000 after acquiring an additional 1,513 shares during the last quarter. Howard Capital Management Inc. raised its holdings 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 acquiring an additional 292 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Newmont by 8.8% during the 4th quarter. IFP Advisors Inc now owns 57,505 shares of the basic materials company's stock valued at $2,142,000 after acquiring an additional 4,649 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 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 $112,344.93. Following the completion of the sale, the director now owns 45,180 shares in the company, valued at $2,443,786.20. This represents a 4.40% 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, 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 transaction of $162,270.00. Following the sale, 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 position. 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. Corporate insiders own 0.05% of the company's stock.

Newmont Stock Down 2.3%

Shares of NYSE NEM opened at $58.12 on Wednesday. The business has a 50-day moving average of $54.02 and a two-hundred day moving average of $47.23. The company has a market capitalization of $64.69 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 0.78 and a beta of 0.31. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $60.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter in the previous year, the firm earned $0.55 EPS. On average, analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. TD Securities reduced their price objective on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, February 26th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Argus set a $63.00 price target on shares of Newmont in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $57.68.

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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