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

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

Several other hedge funds also recently added to or reduced their stakes in the stock. Neo Ivy Capital Management raised its position in Newmont by 225.7% in the fourth quarter. Neo Ivy Capital Management now owns 13,263 shares of the basic materials company's stock valued at $493,000 after purchasing an additional 9,191 shares during the period. GTS Securities LLC increased its position in shares of Newmont by 104.5% during the fourth quarter. GTS Securities LLC now owns 7,173 shares of the basic materials company's stock worth $267,000 after acquiring an additional 164,988 shares during the last quarter. Vise Technologies Inc. increased its position in shares of Newmont by 69.5% during the fourth quarter. Vise Technologies Inc. now owns 16,898 shares of the basic materials company's stock worth $629,000 after acquiring an additional 6,928 shares during the last quarter. McIlrath & Eck LLC increased its position in shares of Newmont by 125.3% during the fourth quarter. McIlrath & Eck LLC now owns 1,823 shares of the basic materials company's stock worth $68,000 after acquiring an additional 1,014 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its position in shares of Newmont by 68.8% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 10,248 shares of the basic materials company's stock worth $381,000 after acquiring an additional 4,177 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total transaction of $106,923.96. Following the sale, the director now owns 47,257 shares of the company's stock, valued at $2,432,790.36. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business'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 sale, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,154 shares of company stock valued at $328,840. Insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NEM. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. National Bank Financial upgraded Newmont to a "hold" rating in a research note on Friday, March 21st. Finally, Raymond James reiterated an "outperform" rating and issued a $66.00 price target on shares of Newmont in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.52.

Newmont Stock Performance

NEM stock traded up $0.21 during midday trading on Wednesday, reaching $52.92. The company had a trading volume of 7,566,477 shares, compared to its average volume of 10,114,233. 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 has a 50 day moving average price of $51.17 and a 200 day moving average price of $45.33. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The firm has a market capitalization of $58.90 billion, a PE ratio of 18.06, a P/E/G ratio of 0.41 and a beta of 0.31.

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

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued 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 1.89%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

About Newmont

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.