Pacific Sage Partners LLC Makes New Investment in Newmont Corporation (NYSE:NEM)

Pacific Sage Partners LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,640 shares of the basic materials company's stock, valued at approximately $224,000.

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

Wall Street Analyst Weigh In

NEM has been the topic of several analyst reports. Raymond James Financial reiterated an "outperform" rating and set a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday, April 25th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. Royal Bank Of Canada upped their price target on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, National Bank Financial raised shares of Newmont to a "hold" rating in a report on Friday, March 21st. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $57.68.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the 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 sale, the executive vice president now directly owns 77,526 shares of the company's stock, valued at approximately $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 accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the transaction, the director now owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $381,539 over the last three months. Corporate insiders own 0.05% of the company's stock.

Newmont Trading Down 2.3%

NYSE:NEM traded down $1.34 during midday trading on Tuesday, hitting $58.12. The stock had a trading volume of 14,887,876 shares, compared to its average volume of 12,163,585. Newmont Corporation has a one year low of $36.86 and a one year high of $60.31. The company has a market capitalization of $64.69 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.98 and a beta of 0.31. The stock has a 50-day moving average of $53.95 and a 200 day moving average of $47.16. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly 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. The firm had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter in the prior year, the company earned $0.55 EPS. As a group, sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

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

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.