Newmont Corporation $NEM Shares Purchased by Orion Investment Co

Key Points

• Orion Investment Co increased its holdings in Newmont Corporation by 126.9%, acquiring an additional 14,314 shares, raising its total ownership to 25,590 shares valued at approximately $1.24 million.
• Multiple institutional investors, including SOA Wealth Advisors LLC and Colonial Trust Advisors, also significantly increased their stakes in Newmont during the first quarter, highlighting strong interest in the company's stock.
• Newmont announced a quarterly dividend of $0.25 per share, set to be paid on September 29th, representing a 1.4% yield based on a $1.00 annualized dividend.

Orion Investment Co raised its position in Newmont Corporation (NYSE:NEM - Free Report) by 126.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,590 shares of the basic materials company's stock after purchasing an additional 14,314 shares during the period. Orion Investment Co's holdings in Newmont were worth $1,235,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Wealth Preservation Advisors LLC bought a new stake in Newmont in the first quarter worth $213,000. Transamerica Financial Advisors LLC raised its position in Newmont by 8,673.3% in the first quarter. Transamerica Financial Advisors LLC now owns 1,316 shares of the basic materials company's stock worth $64,000 after acquiring an additional 1,301 shares during the period. Ieq Capital LLC raised its position in shares of Newmont by 30.4% during the 1st quarter. Ieq Capital LLC now owns 8,410 shares of the basic materials company's stock valued at $406,000 after purchasing an additional 1,960 shares during the period. Redwood Investment Management LLC bought a new stake in Newmont in the 1st quarter valued at $1,382,000. Finally, Gamco Investors INC. ET AL grew its stake in shares of Newmont by 4.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 602,436 shares of the basic materials company's stock worth $29,086,000 after buying an additional 24,602 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

Shares of NEM traded up $1.51 during trading hours on Friday, reaching $74.48. The company had a trading volume of 7,943,120 shares, compared to its average volume of 8,457,726. The firm has a 50 day simple moving average of $63.91 and a 200-day simple moving average of $54.97. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $81.81 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 0.88 and a beta of 0.30. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $74.52.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business's revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. Research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is 17.95%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $132,221.82. Following the completion of the sale, the director directly owned 41,026 shares in the company, valued at $2,611,715.16. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm'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 completion of the sale, the executive vice president directly owned 77,526 shares in the company, valued at $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,246 shares of company stock worth $1,373,251. 0.05% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. CIBC set a $74.00 price objective on shares of Newmont and gave the company a "neutral" rating in a report on Tuesday, July 15th. National Bankshares raised shares of Newmont from a "sector perform" rating to an "outperform" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price target on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Four analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.58.

Newmont Company 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.