Pacific Sage Partners LLC Acquires Shares of 4,640 Newmont Corporation (NYSE:NEM)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after buying an additional 1,847 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of Newmont by 196.9% in the fourth quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company's stock valued at $214,000 after acquiring an additional 3,813 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Newmont by 329.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,972 shares of the basic materials company's stock valued at $73,000 after acquiring an additional 1,513 shares during the last quarter. Olympiad Research LP bought a new stake in Newmont during the fourth quarter worth $233,000. Finally, Fisher Funds Management LTD bought a new stake in Newmont during the fourth quarter worth $3,083,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Scotiabank restated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and upped their price objective for the company from $50.00 to $60.00 in a research note on Friday, April 11th. Finally, Argus set a $63.00 target price on Newmont in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.38.

Newmont Stock Down 4.1%

Shares of NYSE NEM opened at $56.76 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $60.31. The firm has a market capitalization of $63.17 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.78 and a beta of 0.31. The business has a 50-day moving average of $54.18 and a 200-day moving average of $47.53.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data 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. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The firm had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the company posted $0.55 EPS. Sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.76%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is currently 22.42%.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the 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 transaction, the director now owns 45,180 shares of the company's stock, valued at approximately $2,443,786.20. This trade represents a 4.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction 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 now directly owns 77,526 shares of the company's stock, 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 7,154 shares of company stock worth $381,539. 0.05% of the stock is currently owned by corporate 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.