Strategic Financial Concepts LLC Has $318,000 Stock Position in Newmont Corporation (NYSE:NEM)

Strategic Financial Concepts LLC cut its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 86.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,058 shares of the basic materials company's stock after selling 37,564 shares during the quarter. Strategic Financial Concepts LLC's holdings in Newmont were worth $318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SOA Wealth Advisors LLC. lifted its stake in 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. Private Trust Co. NA grew its stake in Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 347 shares in the last quarter. Nexus Investment Management ULC purchased a new stake in shares of Newmont in the first quarter worth approximately $31,000. Alpine Bank Wealth Management purchased a new stake in shares of Newmont in the first quarter worth approximately $32,000. Finally, Redwood Park Advisors LLC acquired a new stake in shares of Newmont during the fourth quarter worth approximately $37,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the 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 $122,023.75. Following the sale, the director directly owned 43,103 shares in the company, valued at $2,532,301.25. This represents a 4.60% 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, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $176,250.00. Following the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 12,231 shares of company stock worth $679,813. 0.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NEM shares. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Argus set a $63.00 price target on Newmont in a research note on Friday, April 25th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Tuesday, June 24th. National Bank Financial raised shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Finally, UBS Group lifted their target price on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.11.

Newmont Stock Performance

Shares of NEM stock traded down $0.20 during trading hours on Friday, reaching $59.86. 5,387,327 shares of the company's stock were exchanged, compared to its average volume of 10,602,512. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week 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 stock has a market capitalization of $66.62 billion, a P/E ratio of 13.42, a P/E/G ratio of 0.79 and a beta of 0.33. The business has a fifty day moving average price of $54.55 and a 200-day moving average price of $48.03.

Newmont (NYSE:NEM - Get Free Report) last posted 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. The firm had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter in the prior year, the firm posted $0.55 EPS. Analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

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