Private Advisor Group LLC Has $4.30 Million Stock Position in Newmont Corporation (NYSE:NEM)

Private Advisor Group LLC increased its stake in Newmont Corporation (NYSE:NEM - Free Report) by 9.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,104 shares of the basic materials company's stock after acquiring an additional 7,849 shares during the quarter. Private Advisor Group LLC's holdings in Newmont were worth $4,302,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Nwam LLC acquired a new position in Newmont in the first quarter valued at approximately $288,000. Hussman Strategic Advisors Inc. lifted its stake in Newmont by 500.0% in the first quarter. Hussman Strategic Advisors Inc. now owns 306,000 shares of the basic materials company's stock valued at $14,774,000 after buying an additional 255,000 shares during the period. Carson Advisory Inc. acquired a new position in Newmont in the first quarter valued at approximately $205,000. Commerzbank Aktiengesellschaft FI raised its position in shares of Newmont by 6.0% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 134,041 shares of the basic materials company's stock worth $6,471,000 after purchasing an additional 7,582 shares during the period. Finally, Graypoint LLC raised its position in shares of Newmont by 23.4% during the first quarter. Graypoint LLC now owns 10,421 shares of the basic materials company's stock worth $503,000 after purchasing an additional 1,974 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Up 3.2%

NEM stock opened at $61.80 on Wednesday. The firm has a market capitalization of $68.78 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.67 and a beta of 0.33. 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 company's 50 day simple moving average is $55.83 and its 200-day simple moving average is $49.80. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $61.87.

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

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's payout ratio is presently 22.42%.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the transaction, the executive vice president directly owned 74,526 shares in the company, valued at $4,378,402.50. The trade was a 3.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,231 shares of company stock valued at $679,813 in the last 90 days. Corporate insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NEM. Royal Bank Of Canada upped their price target on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. The Goldman Sachs Group restated a "neutral" rating and set a $60.90 price target on shares of Newmont in a research report on Tuesday, July 8th. Raymond James Financial restated an "outperform" rating and set a $66.00 price target on shares of Newmont in a research report on Friday, April 25th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research note on Tuesday, June 24th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $62.49.

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.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.