J.W. Cole Advisors Inc. Makes New Investment in Newmont Corporation (NYSE:NEM)

J.W. Cole Advisors Inc. acquired a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 41,280 shares of the basic materials company's stock, valued at approximately $1,993,000.

Several other institutional investors and hedge funds have also modified their holdings of NEM. SOA Wealth Advisors LLC. lifted its stake in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after buying an additional 201 shares in the last quarter. Cloud Capital Management LLC purchased a new position in Newmont in the 1st quarter valued at about $26,000. Private Trust Co. NA lifted its stake in Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after buying an additional 347 shares in the last quarter. Nexus Investment Management ULC purchased a new position in Newmont in the 1st quarter valued at about $31,000. Finally, Alpine Bank Wealth Management purchased a new position in Newmont in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $176,250.00. Following the completion of the sale, the executive vice president directly owned 74,526 shares of the company's stock, valued at $4,378,402.50. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is owned by corporate insiders.

Newmont Stock Performance

Shares of NEM stock opened at $59.86 on Tuesday. 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 has a fifty day moving average price of $55.83 and a 200 day moving average price of $49.80. The company has a market cap of $66.62 billion, a P/E ratio of 13.42, a PEG ratio of 0.65 and a beta of 0.33. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $61.17.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. The firm 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 posted $0.55 earnings per share. Sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were given a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Analysts Set New Price Targets

Several analysts have recently commented on NEM shares. 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. CIBC set a $74.00 price target on shares of Newmont and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada lifted their price target on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a research report on Tuesday, June 24th. Finally, Cfra Research raised shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.49.

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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