Tandem Capital Management Corp ADV Invests $222,000 in Newmont Corporation (NYSE:NEM)

Tandem Capital Management Corp ADV bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,600 shares of the basic materials company's stock, valued at approximately $222,000.

Other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. grew its position in Newmont by 196.9% during the fourth quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company's stock worth $214,000 after buying an additional 3,813 shares in the last quarter. First Trust Advisors LP grew its position in Newmont by 9.9% during the fourth quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock worth $3,575,000 after buying an additional 8,678 shares in the last quarter. Teacher Retirement System of Texas grew its position in Newmont by 773.7% during the fourth quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company's stock worth $2,511,000 after buying an additional 59,740 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in Newmont by 253.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 216,251 shares of the basic materials company's stock worth $8,049,000 after buying an additional 155,078 shares in the last quarter. Finally, Callan Family Office LLC acquired a new stake in Newmont during the fourth quarter worth approximately $481,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NEM. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and increased their price target for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Royal Bank Of Canada increased their price target on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $66.00 target price on shares of Newmont in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $57.68.

Newmont Trading Down 0.1%

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

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the business posted $0.55 EPS. As a group, sell-side analysts expect 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. Investors of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is 22.42%.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on 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 transaction, the executive vice president now directly owns 77,526 shares of the company's stock, valued at $4,193,381.34. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $112,344.93. Following the transaction, the director now directly owns 45,180 shares of the company's stock, valued at approximately $2,443,786.20. This represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock valued at $381,539 in the last 90 days. 0.05% of the stock is owned by corporate insiders.

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.

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