RFG Advisory LLC Purchases New Position in Newmont Co. (NYSE:NEM)

RFG Advisory LLC purchased a new stake in Newmont Co. (NYSE:NEM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,115 shares of the basic materials company's stock, valued at approximately $1,019,000.

Several other institutional investors have also bought and sold shares of NEM. Nexus Investment Management ULC acquired a new stake in Newmont in the 1st quarter valued at $31,000. Redwood Park Advisors LLC acquired a new stake in Newmont in the 4th quarter valued at $37,000. Promus Capital LLC acquired a new stake in Newmont in the 4th quarter valued at $38,000. Kestra Investment Management LLC acquired a new position in shares of Newmont in the 4th quarter worth approximately $43,000. Finally, Assetmark Inc. boosted its holdings 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 worth $47,000 after acquiring an additional 820 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NEM shares. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Argus set a $63.00 target price on Newmont in a report on Friday, April 25th. Finally, Cfra Research raised Newmont to a "strong-buy" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $57.68.

Newmont Stock Performance

Shares of Newmont stock opened at $54.46 on Friday. The firm has a fifty day moving average of $52.08 and a two-hundred day moving average of $45.91. The stock has a market capitalization of $60.61 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 0.41 and a beta of 0.31. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. 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 (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 the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during the quarter, compared to analysts' expectations 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 previous year, the company posted $0.55 EPS. As a group, equities research analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's dividend payout ratio is currently 22.42%.

Insider Activity at Newmont

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

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.

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