Tcfg Wealth Management LLC Boosts Holdings in Newmont Corporation (NYSE:NEM)

Tcfg Wealth Management LLC raised its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 81.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,258 shares of the basic materials company's stock after acquiring an additional 9,970 shares during the period. Tcfg Wealth Management LLC's holdings in Newmont were worth $1,075,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Palouse Capital Management Inc. grew its holdings in shares of Newmont by 6.0% in the first quarter. Palouse Capital Management Inc. now owns 91,543 shares of the basic materials company's stock valued at $4,420,000 after acquiring an additional 5,149 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Newmont by 2.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 190,069 shares of the basic materials company's stock worth $9,176,000 after purchasing an additional 4,236 shares during the last quarter. Jackson Square Capital LLC bought a new position in Newmont in the 1st quarter valued at $264,000. BigSur Wealth Management LLC purchased a new stake in shares of Newmont during the 1st quarter valued at $570,000. Finally, Pullen Investment Management LLC raised its stake in shares of Newmont by 15.6% during the 1st quarter. Pullen Investment Management LLC now owns 32,929 shares of the basic materials company's stock worth $1,590,000 after purchasing an additional 4,444 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on NEM shares. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Argus set a $63.00 target price on shares of Newmont in a research report on Friday, April 25th. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. Finally, National Bankshares restated a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.68.

Newmont Price Performance

Newmont stock traded down $0.25 during midday trading on Wednesday, hitting $58.27. 11,430,186 shares of the company's stock were exchanged, compared to its average volume of 10,416,154. The company has a market cap of $64.85 billion, a P/E ratio of 13.06, a PEG ratio of 0.98 and a beta of 0.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. The stock has a 50-day moving average price of $53.45 and a two-hundred day moving average price of $46.63. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $59.00.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate 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 posted $0.55 EPS. On average, equities research analysts forecast 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 will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. Newmont's dividend payout ratio is presently 22.42%.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the transaction, the director now directly owns 45,180 shares in the company, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president now owns 77,526 shares in the company, valued at $4,193,381.34. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock valued at $381,539 in the last quarter. Corporate insiders own 0.05% of the company's stock.

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.