Kestra Private Wealth Services LLC Has $2.36 Million Position in Newmont Corporation (NYSE:NEM)

Kestra Private Wealth Services LLC increased its stake in Newmont Corporation (NYSE:NEM - Free Report) by 21.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,938 shares of the basic materials company's stock after purchasing an additional 8,509 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Newmont were worth $2,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after acquiring an additional 1,847 shares in the last quarter. Teacher Retirement System of Texas grew its stake 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 valued at $2,511,000 after acquiring an additional 59,740 shares in the last quarter. Magnetar Financial LLC purchased a new position in Newmont during the 4th quarter valued at about $205,000. Summit Global Investments grew its stake in Newmont by 14.4% during the 4th quarter. Summit Global Investments now owns 8,657 shares of the basic materials company's stock valued at $322,000 after acquiring an additional 1,092 shares in the last quarter. Finally, Mizuho Securities USA LLC grew its stake in Newmont by 45.0% during the 4th quarter. Mizuho Securities USA LLC now owns 107,899 shares of the basic materials company's stock valued at $4,016,000 after acquiring an additional 33,494 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NEM shares. Cfra Research raised Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Stifel Nicolaus started coverage on Newmont in a research note on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price target for the company. UBS Group boosted their price target on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Argus set a $63.00 price target on Newmont in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $62.49.

Newmont Price Performance

Shares of NEM stock traded up $1.94 during trading hours on Tuesday, hitting $61.80. 9,358,499 shares of the company's stock were exchanged, compared to its average volume of 10,859,930. The stock's 50-day moving average is $55.83 and its 200-day moving average is $49.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The stock has a market cap of $68.78 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.67 and a beta of 0.33. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $61.89.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter last year, the business earned $0.55 earnings per share. As a group, research analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.62%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio is 22.42%.

Insider Activity

In other Newmont 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 transaction, the executive vice president owned 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm'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 transaction, the director owned 43,103 shares in the company, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,231 shares of company stock worth $679,813. 0.05% of the stock is owned by company insiders.

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.