Victory Capital Management Inc. Increases Position in Newmont Corporation (NYSE:NEM)

Victory Capital Management Inc. grew its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 18.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,440,719 shares of the basic materials company's stock after purchasing an additional 386,082 shares during the quarter. Victory Capital Management Inc. owned about 0.22% of Newmont worth $117,838,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ipswich Investment Management Co. Inc. boosted its stake in Newmont by 1.4% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after purchasing an additional 200 shares during the period. SOA Wealth Advisors LLC. lifted its position in shares of Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 201 shares during the period. HighPoint Advisor Group LLC lifted its position in shares of Newmont by 3.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock valued at $223,000 after acquiring an additional 219 shares during the period. Rothschild Investment LLC lifted its position in shares of Newmont by 8.5% during the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after acquiring an additional 219 shares during the period. Finally, Prudent Man Advisors LLC lifted its position in shares of Newmont by 1.8% during the 1st quarter. Prudent Man Advisors LLC now owns 15,517 shares of the basic materials company's stock valued at $749,000 after acquiring an additional 276 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

NYSE:NEM traded down $0.45 during trading hours on Thursday, hitting $58.00. 13,667,467 shares of the company's stock traded hands, compared to its average volume of 10,797,938. The firm has a market cap of $64.55 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.66 and a beta of 0.33. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $61.17. The business's fifty day simple moving average is $55.64 and its two-hundred day simple moving average is $49.34. 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 (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping 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 firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. On average, research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is 22.42%.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president directly owned 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the transaction, the director owned 43,103 shares in the company, valued at approximately $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. Insiders have sold a total of 12,231 shares of company stock worth $679,813 in the last quarter. Company insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday, March 21st. Stifel Nicolaus assumed coverage on Newmont in a research report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price objective for the company. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a report on Tuesday, June 24th. Finally, Raymond James Financial restated an "outperform" rating and set a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and an average target price of $62.49.

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.