Farther Finance Advisors LLC Buys 10,130 Shares of Newmont Co. (NYSE:NEM)

Farther Finance Advisors LLC raised its holdings in Newmont Co. (NYSE:NEM - Free Report) by 162.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,382 shares of the basic materials company's stock after buying an additional 10,130 shares during the quarter. Farther Finance Advisors LLC's holdings in Newmont were worth $791,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NEM. SOA Wealth Advisors LLC. grew its position in shares of 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 buying an additional 201 shares during the last quarter. Nexus Investment Management ULC purchased a new stake in Newmont in the first quarter worth $31,000. Redwood Park Advisors LLC purchased a new stake in Newmont in the fourth quarter worth $37,000. Promus Capital LLC purchased a new stake in Newmont in the fourth quarter worth $38,000. Finally, Kestra Investment Management LLC purchased a new stake in Newmont in the fourth quarter worth $43,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

Shares of NYSE:NEM traded up $1.95 during midday trading on Friday, reaching $57.87. 19,673,056 shares of the company's stock traded hands, compared to its average volume of 10,351,984. Newmont Co. has a one year low of $36.86 and a one year high of $58.72. The stock has a 50 day moving average of $53.00 and a 200 day moving average of $46.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company has a market cap of $64.41 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, equities research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

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

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $51.48, for a total value of $106,923.96. Following the sale, the director now owns 47,257 shares of the company's stock, valued at $2,432,790.36. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock valued at $381,539 over the last quarter. 0.05% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NEM has been the topic of several recent research reports. National Bank Financial raised Newmont to a "hold" rating in a research note on Friday, March 21st. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and increased their target price for the stock from $50.00 to $60.00 in a research note on Friday, April 11th. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada increased their target price on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.68.

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.