Exchange Traded Concepts LLC Grows Holdings in Newmont Corporation (NYSE:NEM)

Exchange Traded Concepts LLC lifted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 669.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,519 shares of the basic materials company's stock after acquiring an additional 57,879 shares during the quarter. Exchange Traded Concepts LLC's holdings in Newmont were worth $3,212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NEM. Strategic Financial Concepts LLC purchased a new position in Newmont during the 4th quarter worth $1,624,000. Bfsg LLC increased 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 buying an additional 57,690 shares during the period. Principal Securities Inc. raised its holdings in shares of Newmont by 196.9% in the fourth quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company's stock valued at $214,000 after acquiring an additional 3,813 shares in the last quarter. First Trust Advisors LP lifted its stake in Newmont by 9.9% in the fourth quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock worth $3,575,000 after acquiring an additional 8,678 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in Newmont by 773.7% during the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company's stock worth $2,511,000 after acquiring an additional 59,740 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

NEM stock traded down $0.30 during trading on Wednesday, reaching $58.22. The company had a trading volume of 2,883,865 shares, compared to its average volume of 11,954,961. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $59.03. The company has a market cap of $64.80 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.98 and a beta of 0.31. The firm has a 50-day simple moving average of $53.45 and a 200-day simple moving average of $46.63.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data 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. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. As a group, sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.72%. Newmont's payout ratio is presently 22.42%.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research reports. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Raymond James Financial reissued an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a research note on Friday, April 25th. Cfra Research raised Newmont to a "strong-buy" rating in a research report on Friday, April 25th. National Bank Financial raised Newmont to a "hold" rating in a research report on Friday, March 21st. Finally, Royal Bank Of Canada upped their price objective 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 investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $57.68.

Insider Activity

In related 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 transaction of $162,270.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred 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 completion of the transaction, 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. Over the last three months, insiders have sold 7,154 shares of company stock valued at $381,539. Company insiders own 0.05% of the company's stock.

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.