Parr Mcknight Wealth Management Group LLC Invests $397,000 in Newmont Co. (NYSE:NEM)

Parr Mcknight Wealth Management Group LLC acquired a new stake in Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,664 shares of the basic materials company's stock, valued at approximately $397,000.

Other large investors have also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC boosted its stake in shares of Newmont by 3.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock worth $223,000 after purchasing an additional 219 shares during the last quarter. Keel Point LLC lifted its holdings in shares of Newmont by 2.0% during the 4th quarter. Keel Point LLC now owns 14,774 shares of the basic materials company's stock worth $550,000 after acquiring an additional 287 shares during the period. Howard Capital Management Inc. lifted its holdings in shares of Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock worth $210,000 after acquiring an additional 292 shares during the period. Intact Investment Management Inc. lifted its holdings in shares of Newmont by 21.4% during the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock worth $63,000 after acquiring an additional 300 shares during the period. Finally, Conning Inc. lifted its holdings in shares of Newmont by 6.0% during the 4th quarter. Conning Inc. now owns 5,460 shares of the basic materials company's stock worth $203,000 after acquiring an additional 311 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Down 1.7%

NYSE:NEM traded down $0.92 on Tuesday, hitting $52.73. 10,617,915 shares of the company's stock traded hands, compared to its average volume of 10,124,422. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 1 year low of $36.86 and a 1 year high of $58.72. The firm has a 50-day moving average price of $51.07 and a 200-day moving average price of $45.27. The company has a market cap of $58.69 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results 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 return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the previous year, the business posted $0.55 EPS. Equities analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. Newmont's payout ratio is 22.42%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. Wall Street Zen lowered shares of Newmont from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and raised their price target for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Raymond James reissued an "outperform" rating and set a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. Finally, Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $56.52.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares of the company's stock, valued at approximately $3,782,051.46. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,154 shares of company stock valued at $328,840. 0.05% of the stock is 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.