Cetera Investment Advisers boosted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 37.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 186,105 shares of the basic materials company's stock after buying an additional 51,039 shares during the quarter. Cetera Investment Advisers' holdings in Newmont were worth $8,985,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in NEM. SOA Wealth Advisors LLC. boosted its position in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares during the period. Cloud Capital Management LLC bought a new position in Newmont during the first quarter worth about $26,000. Private Trust Co. NA boosted its position in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares during the period. Nexus Investment Management ULC bought a new position in Newmont during the first quarter worth about $31,000. Finally, Alpine Bank Wealth Management bought a new position in Newmont during the first quarter worth about $32,000. Institutional investors own 68.85% of the company's stock.
Insider Transactions at Newmont
In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the transaction, the director owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. The trade was a 4.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business'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 completion of the transaction, the executive vice president directly owned 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 sold 10,154 shares of company stock valued at $572,889. 0.05% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. UBS Group raised their price objective on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Royal Bank Of Canada lifted their price target on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Scotiabank lifted their price target on shares of Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. Finally, Raymond James Financial lifted their target price on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.
Read Our Latest Stock Analysis on NEM
Newmont Stock Up 0.8%
Shares of NEM stock traded up $0.51 during mid-day trading on Friday, reaching $62.61. 11,272,857 shares of the company's stock traded hands, compared to its average volume of 12,499,866. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $66.57. The company has a market cap of $68.77 billion, a P/E ratio of 11.24, a P/E/G ratio of 0.76 and a beta of 0.30. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The company's 50-day moving average price is $58.10 and its 200-day moving average price is $51.35.
Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. Newmont's revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. On average, equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.
Newmont Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Newmont's payout ratio is 17.95%.
About Newmont
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Free Report)
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.
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