M.E. Allison & CO. Inc. Invests $349,000 in Newmont Co. (NYSE:NEM)

M.E. Allison & CO. Inc. purchased a new stake in Newmont Co. (NYSE:NEM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,237 shares of the basic materials company's stock, valued at approximately $349,000.

Several other institutional investors have also recently added to or reduced their stakes in NEM. Brighton Jones LLC raised its holdings in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after acquiring an additional 1,847 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Newmont in the fourth quarter valued at $7,508,000. Savant Capital LLC raised its holdings in Newmont by 29.6% in the fourth quarter. Savant Capital LLC now owns 14,411 shares of the basic materials company's stock valued at $536,000 after acquiring an additional 3,292 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Newmont by 13.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 582,060 shares of the basic materials company's stock valued at $22,178,000 after acquiring an additional 69,271 shares in the last quarter. Finally, Avestar Capital LLC raised its holdings in Newmont by 6.5% in the fourth quarter. Avestar Capital LLC now owns 5,757 shares of the basic materials company's stock valued at $214,000 after acquiring an additional 352 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 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 value of $162,270.00. Following the completion of the sale, the executive vice president now owns 77,526 shares of the company's stock, valued at $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 completion of the sale, the director now directly owns 45,180 shares of the company's stock, valued at $2,443,786.20. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock valued at $381,539 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Up 3.5%

Newmont stock opened at $57.87 on Monday. The company has a 50-day simple moving average of $53.00 and a 200-day simple moving average of $46.44. The firm has a market capitalization of $64.41 billion, a P/E ratio of 19.75, a P/E/G ratio of 0.41 and a beta of 0.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a one year low of $36.86 and a one year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same quarter in the prior year, the firm earned $0.55 earnings per share. As a group, equities analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.73%. The ex-dividend date is Tuesday, May 27th. Newmont's payout ratio is currently 22.42%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NEM. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research note on Friday, March 21st. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Royal Bank of Canada boosted 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. Finally, Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $57.68.

Newmont Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.