Kornitzer Capital Management Inc. KS Raises Stock Holdings in Newmont Corporation (NYSE:NEM)

Kornitzer Capital Management Inc. KS lifted its stake in Newmont Corporation (NYSE:NEM - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 291,891 shares of the basic materials company's stock after purchasing an additional 15,618 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Newmont were worth $14,092,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. SOA Wealth Advisors LLC. lifted its holdings in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares during the period. Cloud Capital Management LLC bought a new position in shares of Newmont in the 1st quarter worth approximately $26,000. Private Trust Co. NA lifted its stake in shares of 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 purchasing an additional 347 shares during the period. Nexus Investment Management ULC bought a new stake in shares of Newmont during the first quarter valued at approximately $31,000. Finally, Alpine Bank Wealth Management purchased a new stake in Newmont in the first quarter worth $32,000. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NYSE NEM traded down $0.45 during midday trading on Thursday, reaching $58.00. The stock had a trading volume of 13,667,467 shares, compared to its average volume of 10,787,570. The company has a market capitalization of $64.55 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth 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. The stock has a 50-day moving average of $55.64 and a 200-day moving average of $49.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly 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 business had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter in the prior year, the business posted $0.55 EPS. As a group, research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were given 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 was Tuesday, May 27th. Newmont's dividend payout ratio is currently 22.42%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Stifel Nicolaus began coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price objective for the company. Finally, Royal Bank Of Canada upped their target price on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.49.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the firm'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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business's 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 sale, the executive vice president owned 74,526 shares in the company, valued at approximately $4,378,402.50. The trade was a 3.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock worth $679,813 in the last three months. 0.05% of the stock is owned by corporate 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.