Dakota Wealth Management Increases Stake in Newmont Corporation (NYSE:NEM)

Dakota Wealth Management boosted its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 1,096.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,260 shares of the basic materials company's stock after buying an additional 79,052 shares during the quarter. Dakota Wealth Management's holdings in Newmont were worth $4,165,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. increased 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 buying an additional 201 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Newmont during the first quarter worth approximately $26,000. Private Trust Co. NA boosted its holdings in shares of 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 acquiring an additional 347 shares during the period. Nexus Investment Management ULC bought a new stake in shares of Newmont during the first quarter worth approximately $31,000. Finally, Alpine Bank Wealth Management bought a new stake in shares of Newmont during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont 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 transaction, the executive vice president owned 77,526 shares in the company, valued at $4,193,381.34. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the transaction, the director owned 43,103 shares in the company, valued at $2,532,301.25. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,231 shares of company stock valued at $679,813. Insiders own 0.05% of the company's stock.

Newmont Stock Performance

Newmont stock traded down $3.43 during mid-day trading on Tuesday, reaching $57.39. The company's stock had a trading volume of 28,722,702 shares, compared to its average volume of 10,741,601. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $61.17. The company has a market capitalization of $63.87 billion, a P/E ratio of 12.87, a PEG ratio of 0.68 and a beta of 0.33. 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's fifty day moving average price is $55.50 and its two-hundred day moving average price is $49.22.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $4.82 billion. During the same period in the previous year, the business earned $0.55 EPS. Sell-side analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NEM. Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday, April 25th. CIBC upped their price target on shares of Newmont from $60.00 to $74.00 and gave the stock a "neutral" rating in a report on Tuesday. National Bankshares restated a "sector perform" rating on shares of Newmont in a report on Tuesday, June 24th. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $62.49.

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.