Integrated Advisors Network LLC Invests $339,000 in Newmont Co. (NYSE:NEM)

Integrated Advisors Network LLC acquired a new stake in Newmont Co. (NYSE:NEM - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,028 shares of the basic materials company's stock, valued at approximately $339,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. Handelsbanken Fonder AB grew its stake in shares of Newmont by 3.3% in the first quarter. Handelsbanken Fonder AB now owns 492,206 shares of the basic materials company's stock valued at $23,764,000 after buying an additional 15,792 shares in the last quarter. Sanibel Captiva Trust Company Inc. bought a new position in Newmont during the first quarter worth $213,000. Central Valley Advisors LLC bought a new stake in shares of Newmont in the first quarter valued at about $1,726,000. Ibex Wealth Advisors bought a new stake in shares of Newmont in the first quarter valued at about $4,323,000. Finally, GAMMA Investing LLC boosted its position in shares of Newmont by 22.2% in the first quarter. GAMMA Investing LLC now owns 21,146 shares of the basic materials company's stock valued at $1,021,000 after acquiring an additional 3,840 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

NEM traded up $1.95 during trading on Friday, hitting $57.87. 19,673,056 shares of the company traded hands, compared to its average volume of 10,371,448. The firm has a market cap of $64.41 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. The stock's fifty day moving average is $53.00 and its 200 day moving average is $46.41. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a one year low of $36.86 and a one year high of $58.72.

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, beating the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during 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 quarter in the prior year, the business earned $0.55 earnings per share. As a group, equities analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.73%. Newmont's payout ratio is 22.42%.

Analysts Set New Price Targets

NEM has been the subject of a number of analyst reports. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and upped their target price for the company from $50.00 to $60.00 in a report on Friday, April 11th. Raymond James reiterated an "outperform" rating and issued a $66.00 target price on shares of Newmont in a report on Friday, April 25th. Finally, National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. 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 stock. Based on data from MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and an average price target of $57.68.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the transaction, the director now owns 45,180 shares in the company, valued at $2,443,786.20. This trade represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated 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 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. In the last 90 days, insiders sold 7,154 shares of company stock worth $381,539. 0.05% of the stock is owned by company insiders.

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.