Stapp Wealth Management Pllc Invests $207,000 in Newmont Corporation (NYSE:NEM)

Stapp Wealth Management Pllc bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,295 shares of the basic materials company's stock, valued at approximately $207,000. Newmont makes up approximately 0.3% of Stapp Wealth Management Pllc's portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Newmont by 88.0% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 33,145 shares of the basic materials company's stock worth $1,600,000 after acquiring an additional 15,514 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Newmont during the first quarter worth about $2,693,000. Tandem Capital Management Corp ADV bought a new stake in Newmont during the first quarter worth about $222,000. Brendel Financial Advisors LLC bought a new stake in Newmont during the first quarter worth about $2,206,000. Finally, Worth Financial Advisory Group LLC bought a new stake in Newmont during the first quarter worth about $249,000. Institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NEM. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Royal Bank Of Canada upped their price objective on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and upped their price objective for the company from $50.00 to $60.00 in a research note on Friday, April 11th. Finally, Scotiabank restated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.68.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the 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 $2,443,786.20. This represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the 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 sale, the executive vice president now directly owns 77,526 shares in the company, valued at $4,193,381.34. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock valued at $381,539 over the last 90 days. 0.05% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $58.22 on Friday. The firm has a market cap of $64.79 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 0.98 and a beta of 0.31. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $59.16. The business's 50 day moving average is $53.86 and its 200-day moving average is $46.99.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter last year, the company earned $0.55 earnings per share. Equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio is currently 22.42%.

Newmont Company 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.

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