Oppenheimer & Co. Inc. Buys 49,426 Shares of Newmont Corporation (NYSE:NEM)

Oppenheimer & Co. Inc. raised its stake in Newmont Corporation (NYSE:NEM - Free Report) by 30.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 210,216 shares of the basic materials company's stock after buying an additional 49,426 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Newmont were worth $10,149,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Newmont during the fourth quarter valued at about $626,074,000. Voloridge Investment Management LLC acquired a new stake in shares of Newmont during the fourth quarter valued at approximately $92,693,000. Capital Research Global Investors raised its holdings in shares of Newmont by 70.7% during the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after acquiring an additional 2,338,953 shares during the period. Renaissance Technologies LLC purchased a new position in Newmont during the 4th quarter valued at about $76,281,000. Finally, Invesco Ltd. grew its stake in Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after acquiring an additional 2,028,150 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NEM has been the topic of several research analyst reports. TD Securities lowered their target price on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Cfra Research raised Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Argus set a $63.00 target price on Newmont in a research note on Friday, April 25th. Finally, Royal Bank Of Canada lifted their target price on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $57.68.

Newmont Stock Performance

NEM traded down $1.34 on Tuesday, hitting $58.12. The company had a trading volume of 14,888,288 shares, compared to its average volume of 10,504,205. The company's fifty day moving average price is $54.02 and its 200 day moving average price is $47.23. 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. The stock has a market cap of $64.69 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 0.78 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 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The firm 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 company earned $0.55 EPS. Equities analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were issued 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 currently 22.42%.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president now directly owns 77,526 shares in the company, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $112,344.93. Following the completion of the sale, the director now directly owns 45,180 shares in the company, valued at $2,443,786.20. This trade represents a 4.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,154 shares of company stock worth $381,539. 0.05% of the stock is currently owned by insiders.

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.