Perissos Private Wealth Management LLC Takes $414,000 Position in Newmont Corporation (NYSE:NEM)

Perissos Private Wealth Management LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,566 shares of the basic materials company's stock, valued at approximately $414,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Newmont in the fourth quarter worth $626,074,000. Voloridge Investment Management LLC bought a new stake in Newmont in the fourth quarter worth $92,693,000. Capital Research Global Investors lifted its position in Newmont by 70.7% in the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after buying an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Newmont in the fourth quarter worth $76,281,000. Finally, Invesco Ltd. lifted its position in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after purchasing an additional 2,028,150 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $112,344.93. Following the sale, the director now owns 45,180 shares in the company, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president now owns 77,526 shares in the company, valued at $4,193,381.34. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,154 shares of company stock worth $381,539. Insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NEM. Cfra Research upgraded Newmont to a "strong-buy" rating in a research report on Friday, April 25th. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Raymond James Financial reiterated an "outperform" rating and set a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. Royal Bank Of Canada lifted their target price on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Finally, National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.38.

Newmont Price Performance

NEM opened at $56.76 on Monday. The business's 50-day moving average is $54.18 and its two-hundred day moving average is $47.61. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $60.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The firm has a market capitalization of $63.17 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 0.75 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.76%. Newmont's dividend payout ratio is presently 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.

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