Newmont Co. (NYSE:NEM) Shares Sold by Randolph Co Inc

Randolph Co Inc reduced its position in Newmont Co. (NYSE:NEM) by 1.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 490,176 shares of the basic materials company’s stock after selling 5,040 shares during the quarter. Newmont comprises approximately 2.8% of Randolph Co Inc’s holdings, making the stock its 19th largest position. Randolph Co Inc’s holdings in Newmont were worth $23,666,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. 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 in the last quarter. Nexus Investment Management ULC acquired a new position in Newmont in the 1st quarter valued at about $31,000. Redwood Park Advisors LLC acquired a new position in Newmont in the 4th quarter valued at about $37,000. Promus Capital LLC acquired a new position in Newmont in the 4th quarter valued at about $38,000. Finally, Kestra Investment Management LLC acquired a new position in Newmont in the 4th quarter valued at about $43,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on NEM. National Bankshares reaffirmed a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Scotiabank reiterated a “sector perform” rating on shares of Newmont in a research note on Monday, April 14th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $60.00 in a research note on Friday, April 11th. Finally, Cfra Research upgraded Newmont to a “strong-buy” rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.68.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president now owns 77,526 shares of the company’s stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont 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 $112,344.93. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $381,539 over the last 90 days. 0.05% of the stock is owned by insiders.

Newmont Price Performance

NEM stock opened at $55.94 on Friday. The business has a 50 day moving average price of $52.74 and a 200 day moving average price of $46.27. The stock has a market cap of $62.26 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 0.41 and a beta of 0.31. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week 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.

Newmont (NYSE:NEM) last posted its 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. The firm had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same quarter in the previous year, the business earned $0.55 earnings per share. Equities research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.79%. The ex-dividend date is Tuesday, May 27th. Newmont’s payout ratio is 22.42%.

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.