Newmont Co. (NYSE:NEM) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 1,734.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 371,068 shares of the basic materials company's stock after buying an additional 350,837 shares during the period. QRG Capital Management Inc.'s holdings in Newmont were worth $17,915,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEM. Sagespring Wealth Partners LLC lifted its position in shares of Newmont by 41.1% during the first quarter. Sagespring Wealth Partners LLC now owns 9,258 shares of the basic materials company's stock worth $447,000 after purchasing an additional 2,697 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of Newmont during the first quarter worth $335,000. Janney Montgomery Scott LLC lifted its position in shares of Newmont by 9.2% during the first quarter. Janney Montgomery Scott LLC now owns 177,531 shares of the basic materials company's stock worth $8,571,000 after purchasing an additional 14,980 shares in the last quarter. M.E. Allison & CO. Inc. acquired a new position in shares of Newmont during the first quarter worth $349,000. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Newmont during the first quarter worth $251,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NEM opened at $57.87 on Monday. The firm has a 50-day moving average price of $53.00 and a 200 day moving average price of $46.44. The firm has a market capitalization of $64.41 billion, a PE ratio of 19.75, a P/E/G ratio of 0.41 and a beta of 0.31. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 52-week low of $36.86 and a 52-week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the firm posted $0.55 EPS. On average, sell-side analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given 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 dividend yield of 1.73%. Newmont's dividend payout ratio (DPR) is 22.42%.

Insider Activity

In other Newmont news, 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 approximately $2,443,786.20. This represents a 4.40% 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, 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 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 represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,154 shares of company stock worth $381,539. Corporate insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. National Bank Financial raised shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Cfra Research raised shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Co. (NYSE:NEM - Free Report).

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.