Newmont Corporation (NYSE:NEM) Shares Sold by Adams Asset Advisors LLC

Adams Asset Advisors LLC reduced its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,669 shares of the basic materials company's stock after selling 36,957 shares during the period. Newmont accounts for about 1.5% of Adams Asset Advisors LLC's portfolio, making the stock its 20th largest holding. Adams Asset Advisors LLC's holdings in Newmont were worth $10,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. SOA Wealth Advisors LLC. boosted its holdings in shares of Newmont by 64.0% during the 1st 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 last quarter. Nexus Investment Management ULC acquired a new position in Newmont in the first quarter valued at approximately $31,000. PSI Advisors LLC grew its position in Newmont by 195.5% in the first quarter. PSI Advisors LLC now owns 795 shares of the basic materials company's stock worth $38,000 after acquiring an additional 526 shares during the period. Grove Bank & Trust grew its position in Newmont by 84.0% in the first quarter. Grove Bank & Trust now owns 911 shares of the basic materials company's stock worth $44,000 after acquiring an additional 416 shares during the period. Finally, Redwood Park Advisors LLC purchased a new position in Newmont in the fourth quarter worth approximately $37,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Down 0.1%

Shares of Newmont stock traded down $0.04 during trading hours on Friday, reaching $58.22. 22,113,769 shares of the company were exchanged, compared to its average volume of 10,490,362. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $59.13. The stock's fifty day moving average is $53.79 and its 200 day moving average is $46.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. The firm has a market cap of $64.79 billion, a PE ratio of 13.05, a PEG ratio of 0.98 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 EPS for the quarter, beating the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter in the prior year, the company posted $0.55 earnings per share. As a group, equities research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $112,344.93. Following the transaction, the director now owns 45,180 shares of the company's stock, valued at $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 SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, June 2nd. The shares were 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 now directly owns 77,526 shares in the company, valued at $4,193,381.34. This trade represents a 3.73% 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 owned by insiders.

Wall Street Analysts Forecast Growth

NEM has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Cfra Research upgraded Newmont to a "strong-buy" rating in a research report on Friday, April 25th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. 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 stock. Based on data from MarketBeat.com, Newmont presently 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.