Newmont Co. (NYSE:NEM) Shares Sold by Randolph Co Inc

Randolph Co Inc trimmed its holdings in Newmont Co. (NYSE:NEM - Free Report) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 490,176 shares of the basic materials company's stock after selling 5,040 shares during the quarter. Newmont makes up approximately 2.8% of Randolph Co Inc's holdings, making the stock its 19th biggest position. Randolph Co Inc's holdings in Newmont were worth $23,666,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. SOA Wealth Advisors LLC. increased its stake in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares during the period. Nexus Investment Management ULC purchased a new position in Newmont during the 1st quarter worth $31,000. Redwood Park Advisors LLC bought a new stake in Newmont during the 4th quarter valued at $37,000. Promus Capital LLC bought a new position in shares of Newmont during the 4th quarter worth $38,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Newmont during the fourth quarter valued at $43,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont 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 completion of the transaction, the executive vice president now directly owns 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the transaction, the director now owns 45,180 shares of the company's stock, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,154 shares of company stock worth $381,539. Corporate insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Argus set a $63.00 price objective on Newmont in a report on Friday, April 25th. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. Finally, Raymond James reissued an "outperform" rating and issued a $66.00 price target on shares of Newmont in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $57.68.

Newmont Trading Up 0.3%

Newmont stock traded up $0.20 during trading on Monday, reaching $58.10. The company had a trading volume of 15,080,236 shares, compared to its average volume of 10,390,280. The stock's 50 day moving average price is $53.00 and its two-hundred day moving average price is $46.44. The firm has a market capitalization of $64.66 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 0.41 and a beta of 0.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 12-month low of $36.86 and a 12-month high of $58.77.

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, topping analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same quarter in the prior year, the company earned $0.55 EPS. As a group, equities analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. Newmont's dividend payout ratio (DPR) is 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.