Nwam LLC Invests $288,000 in Newmont Corporation (NYSE:NEM)

Nwam LLC acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,970 shares of the basic materials company's stock, valued at approximately $288,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. raised its position in Newmont by 64.0% in 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 period. Cloud Capital Management LLC purchased a new stake in Newmont in the 1st quarter worth about $26,000. Private Trust Co. NA grew its stake in Newmont by 122.6% in the 1st 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 in the last quarter. Nexus Investment Management ULC purchased a new position in shares of Newmont during the first quarter worth approximately $31,000. Finally, Alpine Bank Wealth Management purchased a new position in shares of Newmont during the first quarter worth approximately $32,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $176,250.00. Following the completion of the sale, the executive vice president directly owned 74,526 shares in the company, valued at $4,378,402.50. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on 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 sale, the director owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is owned by insiders.

Newmont Stock Up 0.4%

NEM traded up $0.23 during trading on Friday, hitting $58.22. The stock had a trading volume of 13,517,237 shares, compared to its average volume of 10,841,254. The company has a market capitalization of $64.80 billion, a PE ratio of 13.05, a PEG ratio of 0.65 and a beta of 0.33. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $61.17. 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 stock has a 50 day simple moving average of $55.83 and a two-hundred day simple moving average of $49.72.

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 for the quarter, beating the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same period last year, the firm earned $0.55 earnings per share. On average, research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on NEM. Raymond James Financial reaffirmed an "outperform" rating and set a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Royal Bank Of Canada raised their target price on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Finally, CIBC set a $74.00 target price on shares of Newmont and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $62.49.

Newmont 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.