Manning & Napier Advisors LLC Takes Position in Newmont Corporation (NYSE:NEM)

Manning & Napier Advisors LLC purchased a new stake in shares of 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 (SEC). The firm purchased 55,778 shares of the basic materials company's stock, valued at approximately $2,693,000.

A number of other large investors have also added to or reduced their stakes in NEM. SOA Wealth Advisors LLC. grew its position in Newmont by 64.0% in 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. Nexus Investment Management ULC bought a new stake in Newmont in the 1st quarter worth approximately $31,000. Redwood Park Advisors LLC bought a new stake in Newmont in the 4th quarter worth approximately $37,000. Promus Capital LLC bought a new stake in Newmont in the 4th quarter worth approximately $38,000. Finally, PSI Advisors LLC grew its position in Newmont by 195.5% in the 1st quarter. PSI Advisors LLC now owns 795 shares of the basic materials company's stock worth $38,000 after purchasing an additional 526 shares during the period. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Newmont stock traded up $1.27 during mid-day trading on Monday, hitting $59.50. The stock had a trading volume of 12,272,394 shares, compared to its average volume of 10,473,435. The firm has a market capitalization of $66.22 billion, a P/E ratio of 13.34, a P/E/G ratio of 0.98 and a beta of 0.31. 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's 50 day moving average is $53.95 and its 200 day moving average is $47.16. Newmont Corporation has a one year low of $36.86 and a one year high of $60.31.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. The business 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 in the previous year, the company earned $0.55 EPS. On average, sell-side analysts forecast 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. Shareholders of record on Tuesday, May 27th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.68%. The ex-dividend date was Tuesday, May 27th. Newmont's payout ratio is currently 22.42%.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price objective 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. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. TD Securities cut their price objective on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, February 26th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Raymond James Financial reissued an "outperform" rating and set a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.68.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on 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 now owns 77,526 shares in the company, valued at $4,193,381.34. The trade was a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $112,344.93. Following the sale, the director now owns 45,180 shares in the company, valued at $2,443,786.20. This 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 worth $381,539 in the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

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.