IRON Financial LLC Grows Position in Newmont Corporation (NYSE:NEM)

IRON Financial LLC lifted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 108.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,621 shares of the basic materials company's stock after purchasing an additional 9,688 shares during the quarter. IRON Financial LLC's holdings in Newmont were worth $899,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after purchasing an additional 1,847 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Newmont during the fourth quarter valued at approximately $3,956,000. SVB Wealth LLC bought a new position in shares of Newmont during the fourth quarter valued at approximately $417,000. Metis Global Partners LLC increased its stake in shares of Newmont by 7.6% during the fourth quarter. Metis Global Partners LLC now owns 120,426 shares of the basic materials company's stock valued at $4,482,000 after purchasing an additional 8,553 shares in the last quarter. Finally, Heritage Wealth Management Inc. increased its stake in shares of Newmont by 10.4% during the fourth quarter. Heritage Wealth Management Inc. now owns 6,395 shares of the basic materials company's stock valued at $238,000 after purchasing an additional 600 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NEM shares. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. National Bank Financial raised shares of Newmont to a "hold" rating in a research note on Friday, March 21st. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and raised their target price for the company from $50.00 to $60.00 in a research note on Friday, April 11th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $58.38.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on 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 in the company, valued at $4,193,381.34. This trade represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total transaction of $106,923.96. Following the transaction, the director now owns 47,257 shares in the company, valued at $2,432,790.36. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,154 shares of company stock worth $381,539. 0.05% of the stock is owned by insiders.

Newmont Trading Down 4.1%

Shares of NEM stock opened at $56.76 on Monday. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $60.31. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. The firm's 50 day moving average is $54.18 and its 200 day moving average is $47.61. The stock has a market capitalization of $63.17 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.75 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The company had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the company posted $0.55 earnings per share. Research 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 was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.76%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio is currently 22.42%.

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.

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