Sowell Financial Services LLC Acquires Shares of 6,937 Newmont Corporation (NYSE:NEM)

Sowell Financial Services LLC acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,937 shares of the basic materials company's stock, valued at approximately $335,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Janney Montgomery Scott LLC raised its position in shares of Newmont by 9.2% during the first quarter. Janney Montgomery Scott LLC now owns 177,531 shares of the basic materials company's stock worth $8,571,000 after acquiring an additional 14,980 shares during the last quarter. M.E. Allison & CO. Inc. acquired a new stake in Newmont during the 1st quarter valued at approximately $349,000. Trust Co. of Toledo NA OH bought a new position in Newmont during the 1st quarter worth approximately $251,000. North Star Investment Management Corp. lifted its position in shares of Newmont by 10.3% in the 1st quarter. North Star Investment Management Corp. now owns 31,574 shares of the basic materials company's stock worth $1,524,000 after purchasing an additional 2,952 shares during the period. Finally, Brighton Jones LLC raised its stake in Newmont by 2.3% during the first quarter. Brighton Jones LLC now owns 13,924 shares of the basic materials company's stock worth $672,000 after buying an additional 318 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Up 2.2%

Shares of NYSE:NEM traded up $1.27 during midday trading on Monday, hitting $59.50. 12,272,394 shares of the company's stock were exchanged, compared to its average volume of 10,473,384. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $60.30. The company has a market cap of $66.22 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 0.98 and a beta of 0.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The stock has a 50 day moving average price of $53.86 and a 200-day moving average price of $47.03.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company posted $0.55 EPS. On average, sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's payout ratio is currently 22.42%.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were 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 $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 is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $112,344.93. Following the sale, the director now owns 45,180 shares of the company's stock, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,154 shares of company stock worth $381,539. Corporate insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on NEM shares. Argus set a $63.00 price target on Newmont in a report on Friday, April 25th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $57.68.

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.