Pekin Hardy Strauss Inc. Acquires 14,307 Shares of Newmont Corporation (NYSE:NEM)

Pekin Hardy Strauss Inc. lifted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 80.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,019 shares of the basic materials company's stock after acquiring an additional 14,307 shares during the period. Pekin Hardy Strauss Inc.'s holdings in Newmont were worth $1,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of 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 period. Assetmark Inc. grew its stake in shares of Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock valued at $47,000 after buying an additional 820 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Newmont in the 4th quarter valued at about $3,956,000. Raymond James Financial Inc. acquired a new stake in shares of Newmont in the 4th quarter valued at about $35,117,000. Finally, Candriam S.C.A. grew its stake in shares of Newmont by 26.1% in the 4th quarter. Candriam S.C.A. now owns 106,216 shares of the basic materials company's stock valued at $3,953,000 after buying an additional 22,007 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $176,250.00. Following the transaction, the executive vice president directly owned 74,526 shares of the company's stock, valued at approximately $4,378,402.50. This trade represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the transaction, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,231 shares of company stock worth $679,813. Company insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NEM. UBS Group lifted their price target on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Royal Bank Of Canada lifted their price target on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Argus set a $63.00 price target on Newmont in a research note on Friday, April 25th. Finally, Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.11.

Newmont Stock Up 0.4%

Shares of Newmont stock traded up $0.23 during trading on Monday, hitting $60.13. The company's stock had a trading volume of 8,364,438 shares, compared to its average volume of 10,594,834. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $60.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. The company has a fifty day simple moving average of $54.67 and a two-hundred day simple moving average of $48.32. The company has a market capitalization of $66.92 billion, a PE ratio of 13.48, a P/E/G ratio of 0.79 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS 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 company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the firm posted $0.55 EPS. Equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.66%. Newmont's dividend payout ratio is 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.