Sequoia Financial Advisors LLC Increases Stock Position in Newmont Corporation (NYSE:NEM)

Sequoia Financial Advisors LLC lifted its position in Newmont Corporation (NYSE:NEM - Free Report) by 40.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,434 shares of the basic materials company's stock after acquiring an additional 4,415 shares during the period. Sequoia Financial Advisors LLC's holdings in Newmont were worth $745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. boosted its holdings in shares of Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares during the last quarter. Nexus Investment Management ULC acquired a new position in Newmont during the first quarter worth $31,000. Alpine Bank Wealth Management acquired a new position in Newmont during the first quarter worth $32,000. Redwood Park Advisors LLC acquired a new stake in shares of Newmont in the 4th quarter worth $37,000. Finally, Promus Capital LLC purchased a new position in shares of Newmont during the 4th quarter worth $38,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on NEM. Raymond James Financial reissued an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Finally, UBS Group lifted their target price on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.11.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's 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 $176,250.00. Following the completion of the transaction, the executive vice president owned 74,526 shares in the company, valued at $4,378,402.50. The trade was a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction 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. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,231 shares of company stock worth $679,813. 0.05% of the stock is owned by company insiders.

Newmont Trading Down 0.3%

NYSE NEM traded down $0.20 during trading on Friday, hitting $59.86. The stock had a trading volume of 5,387,327 shares, compared to its average volume of 10,602,512. The company has a market capitalization of $66.62 billion, a PE ratio of 13.42, a PEG ratio of 0.79 and a beta of 0.33. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $60.31. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average price of $54.55 and a 200 day moving average price of $48.03.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly 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. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The company had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the company posted $0.55 EPS. As a group, equities research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.67%. Newmont's payout ratio is 22.42%.

Newmont 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.