Merit Financial Group LLC Buys 8,817 Shares of Newmont Co. (NYSE:NEM)

Merit Financial Group LLC grew its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 107.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,998 shares of the basic materials company's stock after buying an additional 8,817 shares during the quarter. Merit Financial Group LLC's holdings in Newmont were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new stake in Newmont during the fourth quarter worth about $1,624,000. Bfsg LLC grew its stake in shares of Newmont by 47.7% during the fourth quarter. Bfsg LLC now owns 178,566 shares of the basic materials company's stock valued at $6,646,000 after purchasing an additional 57,690 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Newmont by 196.9% during the fourth quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company's stock valued at $214,000 after purchasing an additional 3,813 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Newmont by 53.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 13,918 shares of the basic materials company's stock valued at $518,000 after purchasing an additional 4,852 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Newmont by 9.9% during the fourth quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock valued at $3,575,000 after purchasing an additional 8,678 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, 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 value of $112,344.93. Following the sale, the director now directly owns 45,180 shares in the company, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the executive vice president now directly owns 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,154 shares of company stock worth $381,539. Insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NEM. Royal Bank of Canada increased their price target 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. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Argus set a $63.00 price objective on shares of Newmont in a research note on Friday, April 25th. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.68.

Newmont Stock Up 1.4%

Shares of NYSE:NEM traded up $0.72 during midday trading on Wednesday, reaching $53.28. 11,397,770 shares of the company were exchanged, compared to its average volume of 10,263,814. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $52.51 and a two-hundred day simple moving average of $46.18. The firm has a market cap of $59.30 billion, a PE ratio of 18.18, a P/E/G ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the business posted $0.55 earnings per share. As a group, sell-side analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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 dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. Newmont's payout ratio is 22.42%.

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.