Secured Retirement Advisors LLC Sells 30,793 Shares of Newmont Corporation (NYSE:NEM)

Secured Retirement Advisors LLC reduced its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 53.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,179 shares of the basic materials company's stock after selling 30,793 shares during the period. Secured Retirement Advisors LLC's holdings in Newmont were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NEM. Norges Bank bought a new stake in shares of Newmont during the fourth quarter worth about $626,074,000. Voloridge Investment Management LLC bought a new stake in Newmont in the fourth quarter valued at approximately $92,693,000. Capital Research Global Investors boosted its holdings 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 valued at $210,105,000 after acquiring an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Newmont in the fourth quarter valued at approximately $76,281,000. Finally, Invesco Ltd. boosted its holdings in Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after acquiring an additional 2,028,150 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the 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 owned 77,526 shares in the company, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated 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 owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock valued at $679,813 in the last quarter. 0.05% of the stock is owned by corporate insiders.

Newmont Stock Performance

NYSE:NEM traded up $1.10 during trading on Wednesday, reaching $58.45. The company's stock had a trading volume of 16,640,326 shares, compared to its average volume of 10,776,035. The firm has a market cap of $65.06 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 0.65 and a beta of 0.33. 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 firm has a 50 day moving average of $55.55 and a 200-day moving average of $49.28. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $61.17.

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

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders 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 dividend yield of 1.71%. Newmont's payout ratio is 22.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NEM shares. Raymond James Financial restated an "outperform" rating and set a $66.00 price target on shares of Newmont in a report on Friday, April 25th. CIBC set a $74.00 target price on Newmont and gave the stock a "neutral" rating in a research report on Tuesday. Stifel Nicolaus initiated coverage on Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price on the stock. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.49.

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.