Seelaus Asset Management LLC Invests $262,000 in Newmont Corporation (NYSE:NEM)

Key Points

• Seelaus Asset Management LLC has invested $262,000 in Newmont Corporation, acquiring 5,423 shares, marking a new position for the firm in the gold mining sector.
• Analysts have revised their price targets for Newmont, with Royal Bank of Canada raising their target from $52.00 to $66.00 and Stifel Nicolaus setting a new price target of $73.00.
• Newmont recently announced a quarterly dividend of $0.25, providing an annualized yield of 1.6%, with a dividend payout ratio of 17.95%.

Seelaus Asset Management LLC bought a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,423 shares of the basic materials company's stock, valued at approximately $262,000.

Other institutional investors have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. grew its stake in shares of 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 acquiring an additional 201 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Newmont in the 1st quarter worth $26,000. Private Trust Co. NA grew its stake in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after acquiring an additional 347 shares in the last quarter. Nexus Investment Management ULC bought a new stake in shares of Newmont in the 1st quarter worth $31,000. Finally, Alpine Bank Wealth Management bought a new stake in shares of Newmont in the 1st quarter worth $32,000. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada boosted their price target on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Raymond James Financial boosted their price target on shares of Newmont from $67.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Stifel Nicolaus assumed coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $64.58.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the transaction, the director directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,154 shares of company stock worth $572,889 over the last ninety days. 0.05% of the stock is currently owned by insiders.

Newmont Trading Up 0.8%

Shares of Newmont stock opened at $62.61 on Monday. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $66.57. The company has a market cap of $68.77 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 0.76 and a beta of 0.30. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The company's 50-day moving average price is $58.10 and its 200-day moving average price is $51.42.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. On average, equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is currently 17.95%.

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.

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.