Tidal Investments LLC Raises Holdings in Newmont Co. (NYSE:NEM)

Tidal Investments LLC increased its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 16.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 190,843 shares of the basic materials company's stock after purchasing an additional 27,148 shares during the quarter. Tidal Investments LLC's holdings in Newmont were worth $7,103,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. grew its holdings in Newmont by 121.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 15,175 shares of the basic materials company's stock valued at $565,000 after buying an additional 8,315 shares in the last quarter. Merit Financial Group LLC acquired a new position in Newmont during the 4th quarter worth about $304,000. HB Wealth Management LLC lifted its stake in Newmont by 4.9% during the 4th quarter. HB Wealth Management LLC now owns 14,471 shares of the basic materials company's stock worth $539,000 after acquiring an additional 673 shares in the last quarter. Clarius Group LLC lifted its stake in Newmont by 5.3% during the 4th quarter. Clarius Group LLC now owns 6,990 shares of the basic materials company's stock worth $260,000 after acquiring an additional 349 shares in the last quarter. Finally, Successful Portfolios LLC increased its holdings in Newmont by 5.3% during the 4th quarter. Successful Portfolios LLC now owns 6,221 shares of the basic materials company's stock worth $232,000 after purchasing an additional 312 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Raymond James reaffirmed an "outperform" rating and set a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. Cfra Research raised Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Royal Bank of Canada increased their price objective on Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and an average price target of $56.52.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the transaction, the executive vice president now directly owns 86,526 shares of the company's stock, valued at approximately $3,782,051.46. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now directly owns 47,916 shares of the company's stock, valued at $2,094,408.36. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock valued at $328,840 over the last quarter. Company insiders own 0.05% of the company's stock.

Newmont Stock Performance

NYSE NEM opened at $50.91 on Tuesday. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The company has a market capitalization of $56.66 billion, a P/E ratio of 17.38, a PEG ratio of 0.41 and a beta of 0.31. The business has a 50 day moving average price of $50.48 and a 200 day moving average price of $45.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. The company 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 13.52% and a net margin of 17.92%. During the same quarter last year, the business posted $0.55 earnings per share. Sell-side analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is 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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