Stratos Wealth Partners LTD. Has $1.15 Million Stock Position in Newmont Corporation (NYSE:NEM)

Stratos Wealth Partners LTD. boosted its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 70.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,745 shares of the basic materials company's stock after buying an additional 9,827 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Newmont were worth $1,146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brown Advisory Inc. grew its holdings in shares of Newmont by 0.4% during the first quarter. Brown Advisory Inc. now owns 71,873 shares of the basic materials company's stock worth $3,470,000 after buying an additional 319 shares in the last quarter. Pekin Hardy Strauss Inc. increased its stake in shares of Newmont by 80.8% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 32,019 shares of the basic materials company's stock worth $1,546,000 after acquiring an additional 14,307 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Newmont by 226.8% during the 1st quarter. TD Private Client Wealth LLC now owns 4,079 shares of the basic materials company's stock worth $197,000 after acquiring an additional 2,831 shares during the period. Penserra Capital Management LLC boosted its position in shares of Newmont by 133.7% during the 1st quarter. Penserra Capital Management LLC now owns 6,961 shares of the basic materials company's stock valued at $335,000 after acquiring an additional 3,982 shares during the last quarter. Finally, Oppenheimer & Close LLC grew its holdings in shares of Newmont by 8.0% in the first quarter. Oppenheimer & Close LLC now owns 67,405 shares of the basic materials company's stock valued at $3,254,000 after purchasing an additional 5,000 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the sale, the executive vice president directly owned 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont 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 $122,023.75. Following the completion of the sale, the director owned 43,103 shares of the company's stock, valued at $2,532,301.25. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,231 shares of company stock valued at $679,813. Corporate insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NEM. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a research report on Tuesday, June 24th. Stifel Canada raised Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Raymond James Financial restated an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. Finally, Argus set a $63.00 price target on shares of Newmont in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $62.49.

Newmont Stock Performance

NEM stock traded up $1.10 on Wednesday, reaching $58.45. The company's stock had a trading volume of 16,640,326 shares, compared to its average volume of 12,111,141. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $61.17. 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 company has a market capitalization of $65.06 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.69 and a beta of 0.33. The firm has a fifty day moving average of $55.55 and a two-hundred day moving average of $49.28.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same period last year, the firm posted $0.55 earnings per share. As a group, 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 was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Tuesday, May 27th. 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.