Wealth Enhancement Advisory Services LLC Increases Position in Newmont Corporation (NYSE:NEM)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 190,069 shares of the basic materials company's stock after buying an additional 4,236 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Newmont were worth $9,176,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. SOA Wealth Advisors LLC. grew its position in Newmont by 64.0% in 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 last quarter. Nexus Investment Management ULC bought a new position in shares of Newmont in the first quarter worth about $31,000. Redwood Park Advisors LLC purchased a new position in Newmont in the 4th quarter worth about $37,000. Promus Capital LLC bought a new stake in Newmont during the 4th quarter valued at about $38,000. Finally, Assetmark Inc. boosted its position in Newmont by 185.9% in the 4th quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock valued at $47,000 after buying an additional 820 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Trading Up 2.2%

NYSE NEM opened at $59.50 on Tuesday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $60.31. The company has a 50 day moving average price of $53.95 and a 200 day moving average price of $47.16. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25. The firm has a market cap of $66.22 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 0.98 and a beta of 0.31.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. As a group, sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $112,344.93. Following the completion of the sale, the director now owns 45,180 shares of the company's stock, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the business'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 approximately $4,193,381.34. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,154 shares of company stock worth $381,539. 0.05% of the stock is owned by insiders.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. National Bank Financial raised shares of Newmont to a "hold" rating in a research report on Friday, March 21st. TD Securities dropped their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Argus set a $63.00 price target on Newmont in a research note on Friday, April 25th. 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 issued a strong buy rating to the stock. According to MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and an average target price of $57.68.

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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