Kerntke Otto McGlone Wealth Management Group increased its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 58.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,255 shares of the basic materials company's stock after purchasing an additional 4,903 shares during the period. Kerntke Otto McGlone Wealth Management Group's holdings in Newmont were worth $640,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Ipswich Investment Management Co. Inc. grew its position in Newmont by 1.4% during the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after acquiring an additional 200 shares during the period. SOA Wealth Advisors LLC. grew its holdings 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 during the period. HighPoint Advisor Group LLC increased its position in Newmont by 3.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock worth $223,000 after purchasing an additional 219 shares in the last quarter. Rothschild Investment LLC raised its holdings in Newmont by 8.5% in the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after buying an additional 219 shares during the period. Finally, Keel Point LLC lifted its position in 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 in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
NEM has been the subject of a number of research reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. UBS Group upped their target price on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Stifel Canada upgraded Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research report on Tuesday, June 24th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and an average target price of $61.45.
Get Our Latest Analysis on NEM
Insiders Place Their Bets
In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the completion of the transaction, the executive vice president directly owned 74,526 shares of the company's stock, valued at approximately $4,378,402.50. This trade represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,231 shares of company stock worth $679,813 over the last quarter. 0.05% of the stock is currently owned by company insiders.
Newmont Stock Performance
Shares of Newmont stock traded up $0.34 during trading hours on Friday, reaching $60.12. The company's stock had a trading volume of 9,103,957 shares, compared to its average volume of 10,654,017. Newmont Corporation has a one year low of $36.86 and a one year high of $60.31. The company's 50 day simple moving average is $55.34 and its 200 day simple moving average is $48.99. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. The stock has a market cap of $66.91 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33.
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 analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter last year, the company posted $0.55 earnings per share. As a group, analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.
Newmont Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.66%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio is presently 22.42%.
About Newmont
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Free Report)
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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