Legacy Capital Wealth Partners LLC Buys New Holdings in Newmont Corporation (NYSE:NEM)

Legacy Capital Wealth Partners LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,976 shares of the basic materials company's stock, valued at approximately $385,000.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Argus set a $63.00 price target on shares of Newmont in a report on Friday, April 25th. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. Stifel Nicolaus started coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a "buy" rating and a $73.00 price objective for the company. Finally, CIBC set a $74.00 price objective on shares of Newmont and gave the company a "neutral" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued 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, the company currently has an average rating of "Moderate Buy" and an average target price of $62.49.

Newmont Price Performance

NYSE NEM traded down $0.45 during trading hours on Thursday, reaching $58.00. The company's stock had a trading volume of 13,667,467 shares, compared to its average volume of 10,797,938. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $61.17. The stock has a market cap of $64.55 billion, a PE ratio of 13.00, a PEG ratio of 0.66 and a beta of 0.33. The company's 50-day moving average is $55.64 and its two-hundred day moving average is $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 posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates 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 firm posted $0.55 earnings per share. Analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were issued 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 (DPR) is 22.42%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president directly owned 77,526 shares in the company, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the sale, the director owned 43,103 shares in the company, valued at approximately $2,532,301.25. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,231 shares of company stock valued at $679,813. Corporate insiders own 0.05% of the company's stock.

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.