White Knight Strategic Wealth Advisors LLC Has $1.17 Million Position in Newmont Co. (NYSE:NEM)

White Knight Strategic Wealth Advisors LLC raised its stake in Newmont Co. (NYSE:NEM - Free Report) by 389.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,542 shares of the basic materials company's stock after buying an additional 25,101 shares during the quarter. White Knight Strategic Wealth Advisors LLC's holdings in Newmont were worth $1,174,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC acquired a new position in Newmont in the 4th quarter worth about $1,624,000. Inlet Private Wealth LLC raised its position in Newmont by 27.6% during the fourth quarter. Inlet Private Wealth LLC now owns 39,720 shares of the basic materials company's stock valued at $1,478,000 after acquiring an additional 8,600 shares in the last quarter. Bfsg LLC grew its position in Newmont by 47.7% in the fourth quarter. Bfsg LLC now owns 178,566 shares of the basic materials company's stock worth $6,646,000 after acquiring an additional 57,690 shares in the last quarter. Swedbank AB raised its holdings in shares of Newmont by 1.7% during the 4th quarter. Swedbank AB now owns 768,848 shares of the basic materials company's stock valued at $28,617,000 after purchasing an additional 12,608 shares in the last quarter. Finally, Encompass More Asset Management boosted its holdings in Newmont by 267.9% in the fourth quarter. Encompass More Asset Management now owns 37,501 shares of the basic materials company's stock worth $1,396,000 after purchasing an additional 27,309 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

NYSE NEM opened at $50.91 on Tuesday. Newmont Co. has a twelve month low of $36.86 and a twelve month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a market cap of $56.66 billion, a P/E ratio of 17.38, a PEG ratio of 0.41 and a beta of 0.31. The company's 50-day simple moving average is $50.48 and its 200 day simple moving average is $45.00.

Newmont (NYSE:NEM - Get Free Report) last released 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. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same period in the prior year, the company posted $0.55 EPS. As a group, research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.96%. Newmont's dividend payout ratio is currently 22.42%.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,154 shares of company stock valued at $328,840. 0.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NEM has been the topic of several recent research reports. Cfra Research upgraded Newmont to a "strong-buy" rating in a report on Friday, April 25th. Royal Bank of Canada raised their price objective on Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. Scotiabank restated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and increased their price target for the company from $50.00 to $60.00 in a report on Friday, April 11th. Finally, National Bankshares reissued a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Newmont has a consensus rating of "Moderate Buy" and an average price target of $56.52.

Newmont 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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