LifeWealth Investments LLC Makes New $356,000 Investment in Newmont Corporation (NYSE:NEM)

LifeWealth Investments LLC purchased a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,365 shares of the basic materials company's stock, valued at approximately $356,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ipswich Investment Management Co. Inc. raised its holdings in Newmont by 1.4% in 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 in the last quarter. SOA Wealth Advisors LLC. grew its holdings in 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 acquiring an additional 201 shares in the last quarter. HighPoint Advisor Group LLC increased its position in shares of Newmont by 3.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock valued at $223,000 after purchasing an additional 219 shares during the last quarter. Rothschild Investment LLC raised its holdings in shares of Newmont by 8.5% in the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after purchasing an additional 219 shares in the last quarter. Finally, Keel Point LLC lifted its position in shares of Newmont by 2.0% during the 4th quarter. Keel Point LLC now owns 14,774 shares of the basic materials company's stock worth $550,000 after purchasing an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the sale, the executive vice president now directly owns 77,526 shares of the company's stock, valued at $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 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 $112,344.93. Following the completion of the transaction, the director now owns 45,180 shares in the company, valued at approximately $2,443,786.20. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock valued at $381,539 over the last quarter. 0.05% of the stock is currently owned by insiders.

Newmont Stock Performance

Shares of NEM opened at $58.52 on Wednesday. The company's 50 day simple moving average is $53.45 and its 200-day simple moving average is $46.63. The firm has a market cap of $65.13 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.98 and a beta of 0.31. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $58.81. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25.

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 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 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 in the prior year, the business earned $0.55 EPS. As a group, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio is currently 22.42%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Raymond James Financial reissued an "outperform" rating and issued a $66.00 target price on shares of Newmont in a report on Friday, April 25th. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Royal Bank Of Canada raised their target price on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Argus set a $63.00 target price on Newmont in a research note on Friday, April 25th. Finally, UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and increased their price target for the company from $50.00 to $60.00 in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.68.

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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