4,824 Shares in Newmont Corporation (NYSE:NEM) Acquired by Sheaff Brock Investment Advisors LLC

Key Points

• Sheaff Brock Investment Advisors LLC has acquired a new stake in Newmont Corporation, purchasing 4,824 shares valued at approximately $233,000 during the first quarter.
• Newmont's recent earnings report showed earnings per share of $1.43, significantly surpassing analysts' expectations of $0.95 and reflecting a 20.8% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.25, with a 1.56% yield and a payout ratio of 17.95% for shareholders of record on September 4th.

Sheaff Brock Investment Advisors LLC bought a new position in Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 4,824 shares of the basic materials company's stock, valued at approximately $233,000.

Several other institutional investors have also added to or reduced their stakes in the business. SOA Wealth Advisors LLC. lifted its position 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 purchasing an additional 201 shares during the period. Cloud Capital Management LLC purchased a new stake in shares of Newmont in the 1st quarter worth about $26,000. Private Trust Co. NA lifted its position 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 purchasing an additional 347 shares during the period. Nexus Investment Management ULC bought a new position in shares of Newmont in the 1st quarter worth about $31,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Newmont in the 1st quarter worth about $32,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NEM. Stifel Nicolaus began coverage on shares of Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price for the company. National Bankshares upgraded Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. Scotiabank raised their price target on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a report on Monday. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $64.58.

Newmont Price Performance

NYSE NEM traded down $1.68 during trading hours on Wednesday, reaching $62.31. The company's stock had a trading volume of 10,312,844 shares, compared to its average volume of 12,275,530. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $66.57. The firm's 50-day moving average price is $57.54 and its 200-day moving average price is $50.89. The company has a market capitalization of $68.44 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 0.78 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data 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. Newmont had a return on equity of 17.86% and a net margin of 30.50%. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The company's revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders 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 1.60%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's payout ratio is 17.95%.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 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 $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. The trade was a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 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 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 trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,231 shares of company stock valued at $679,813. Company 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.