Valicenti Advisory Services Inc. Sells 65,503 Shares of Newmont Corporation (NYSE:NEM)

Valicenti Advisory Services Inc. lowered its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 38.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 102,928 shares of the basic materials company's stock after selling 65,503 shares during the quarter. Newmont makes up 1.3% of Valicenti Advisory Services Inc.'s portfolio, making the stock its 27th biggest position. Valicenti Advisory Services Inc.'s holdings in Newmont were worth $4,969,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Norges Bank bought a new position in Newmont in the fourth quarter worth approximately $626,074,000. Voloridge Investment Management LLC bought a new position in shares of Newmont in the 4th quarter worth $92,693,000. Capital Research Global Investors raised its position in shares of Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after acquiring an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Newmont in the 4th quarter worth $76,281,000. Finally, Invesco Ltd. raised its holdings in Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after purchasing an additional 2,028,150 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on NEM shares. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Raymond James Financial reiterated an "outperform" rating and set a $66.00 price objective on shares of Newmont in a research note on Friday, April 25th. Argus set a $63.00 price target on Newmont in a research report on Friday, April 25th. National Bank Financial raised Newmont to a "hold" rating in a research report on Friday, March 21st. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $57.68.

Newmont Stock Down 2.3%

Shares of NEM stock opened at $58.12 on Wednesday. The stock's 50-day simple moving average is $54.02 and its 200-day simple moving average is $47.23. 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 firm has a market capitalization of $64.69 billion, a PE ratio of 13.03, a P/E/G ratio of 0.78 and a beta of 0.31. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $60.31.

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 for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the company earned $0.55 EPS. Equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed 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 was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. Newmont's payout ratio is currently 22.42%.

Insider Transactions at Newmont

In related 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing 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 dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $112,344.93. Following the sale, the director now directly owns 45,180 shares in the company, valued at approximately $2,443,786.20. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,154 shares of company stock worth $381,539 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

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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