10,664 Shares in Newmont Co. (NYSE:NEM) Purchased by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,664 shares of the basic materials company's stock, valued at approximately $397,000.

Several other hedge funds have also recently made changes to their positions in the business. Van ECK Associates Corp raised its position in shares of Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after buying an additional 797,445 shares in the last quarter. Geode Capital Management LLC raised its position in Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after purchasing an additional 1,213,397 shares during the period. Norges Bank purchased a new stake in Newmont in the 4th quarter worth about $626,074,000. Northern Trust Corp raised its position in Newmont by 11.5% in the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock worth $474,263,000 after purchasing an additional 1,309,177 shares during the period. Finally, Amundi raised its position in Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after purchasing an additional 1,507,708 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NEM shares. Argus set a $63.00 price objective on shares of Newmont in a research report on Friday, April 25th. Royal Bank of Canada increased their price objective on shares of Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research report on Friday, April 4th. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Raymond James reissued an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. Finally, Cfra Research raised shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.52.

Insider Buying and Selling at Newmont

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

Newmont Stock Down 0.3%

Shares of NYSE NEM traded down $0.15 during midday trading on Thursday, reaching $52.71. 4,412,730 shares of the company's stock traded hands, compared to its average volume of 10,102,872. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock's 50 day simple moving average is $51.29 and its 200-day simple moving average is $45.38. Newmont Co. has a one year low of $36.86 and a one year high of $58.72. The company has a market cap of $58.66 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the firm earned $0.55 earnings per share. On average, analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. Newmont's dividend payout ratio is presently 22.42%.

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.