Newmont Corporation (NYSE:NEM) Shares Bought by Oppenheimer & Close LLC

Oppenheimer & Close LLC boosted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,405 shares of the basic materials company's stock after acquiring an additional 5,000 shares during the quarter. Newmont accounts for 2.7% of Oppenheimer & Close LLC's holdings, making the stock its 13th largest position. Oppenheimer & Close LLC's holdings in Newmont were worth $3,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. SOA Wealth Advisors LLC. raised 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 valued at $25,000 after acquiring an additional 201 shares in the last quarter. Cloud Capital Management LLC purchased a new position in Newmont during the first quarter valued at approximately $26,000. Private Trust Co. NA raised 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 valued at $30,000 after acquiring an additional 347 shares in the last quarter. Nexus Investment Management ULC purchased a new position in Newmont during the first quarter valued at approximately $31,000. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Newmont in the first quarter valued at approximately $32,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Cfra Research upgraded Newmont to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group restated a "neutral" rating and issued a $60.90 price objective on shares of Newmont in a research report on Tuesday. Argus set a $63.00 price objective on Newmont in a research report on Friday, April 25th. National Bankshares restated a "sector perform" rating on shares of Newmont in a research report on Tuesday, June 24th. Finally, National Bank Financial raised Newmont to a "hold" rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and an average target price of $60.35.

Newmont Trading Down 3.4%

Shares of NEM stock traded down $2.06 on Tuesday, hitting $58.10. The stock had a trading volume of 8,890,100 shares, compared to its average volume of 10,590,455. The company's 50 day moving average price is $54.79 and its 200-day moving average price is $48.48. The firm has a market capitalization of $64.67 billion, a P/E ratio of 13.03, a P/E/G ratio of 0.79 and a beta of 0.33. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $60.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70.

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 (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion during 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 period in the prior year, the firm posted $0.55 EPS. Analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. Newmont's dividend payout ratio is currently 22.42%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the company'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 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 represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the sale, the director directly 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 ninety days, insiders have sold 12,231 shares of company stock valued at $679,813. Insiders own 0.05% of the company's stock.

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.