Wealthfront Advisers LLC Raises Position in Newmont Corporation (NYSE:NEM)

Wealthfront Advisers LLC boosted its position in Newmont Corporation (NYSE:NEM - Free Report) by 18.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 119,326 shares of the basic materials company's stock after purchasing an additional 18,707 shares during the period. Wealthfront Advisers LLC's holdings in Newmont were worth $5,761,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEM. Brighton Jones LLC grew its position in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after acquiring an additional 1,847 shares during the period. Harbour Investments Inc. grew its position in shares of Newmont by 24.9% during the 4th quarter. Harbour Investments Inc. now owns 3,827 shares of the basic materials company's stock valued at $142,000 after acquiring an additional 764 shares during the period. Advisors Asset Management Inc. grew its position in shares of Newmont by 23.3% during the 4th quarter. Advisors Asset Management Inc. now owns 72,300 shares of the basic materials company's stock valued at $2,691,000 after acquiring an additional 13,645 shares during the period. Horizon Investments LLC grew its position in shares of Newmont by 1.6% during the 4th quarter. Horizon Investments LLC now owns 19,885 shares of the basic materials company's stock valued at $740,000 after acquiring an additional 317 shares during the period. Finally, Xponance Inc. grew its position in shares of Newmont by 0.6% during the 4th quarter. Xponance Inc. now owns 166,085 shares of the basic materials company's stock valued at $6,182,000 after acquiring an additional 1,001 shares during the period. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

NEM has been the subject of several analyst reports. Royal Bank Of Canada raised their price objective on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Stifel Nicolaus initiated coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price objective for the company. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. National Bank Financial raised shares of Newmont to a "hold" rating in a report on Friday, March 21st. Finally, CIBC set a $74.00 price objective on shares of Newmont and gave the stock a "neutral" rating in a report on Tuesday. One 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. According to MarketBeat, Newmont presently has an average rating of "Moderate Buy" and an average target price of $62.49.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director directly owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. The trade was a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president directly owned 74,526 shares of the company's stock, valued at $4,378,402.50. This represents a 3.87% 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 valued at $679,813 over the last ninety days. 0.05% of the stock is currently owned by insiders.

Newmont Price Performance

NYSE NEM traded down $0.45 on Thursday, hitting $58.00. The stock had a trading volume of 13,667,467 shares, compared to its average volume of 10,797,938. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $61.17. 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 company has a market capitalization of $64.55 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.66 and a beta of 0.33. The firm has a 50-day moving average of $55.64 and a 200-day moving average of $49.34.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating 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 firm had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the company posted $0.55 EPS. Equities analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was 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.