Newmont Corporation (NYSE:NEM) Stock Position Raised by Realta Investment Advisors

Realta Investment Advisors boosted its holdings in Newmont Corporation (NYSE:NEM) by 30.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,047 shares of the basic materials company’s stock after acquiring an additional 3,500 shares during the period. Realta Investment Advisors’ holdings in Newmont were worth $726,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. increased its holdings in shares of Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock worth $569,000 after acquiring an additional 1,379 shares during the period. First Trust Advisors LP grew its position in Newmont by 9.9% in the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company’s stock worth $3,575,000 after purchasing an additional 8,678 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Newmont in the first quarter valued at approximately $423,000. Spire Wealth Management raised its holdings in shares of Newmont by 125.0% during the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock valued at $114,000 after buying an additional 1,309 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Newmont by 773.7% during the fourth quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company’s stock worth $2,511,000 after buying an additional 59,740 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the 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 $2,532,301.25. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $176,250.00. Following the sale, the executive vice president owned 74,526 shares in the company, valued at approximately $4,378,402.50. The trade was a 3.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,231 shares of company stock worth $679,813 over the last ninety days. 0.05% of the stock is owned by insiders.

Newmont Stock Performance

Shares of NEM opened at $60.12 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The firm’s 50 day moving average is $55.34 and its 200-day moving average is $48.91. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $60.31. The stock has a market capitalization of $66.91 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.68 and a beta of 0.33.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter in the previous year, the business posted $0.55 earnings per share. Equities research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 22.42%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank Of Canada raised their target price on Newmont from $52.00 to $66.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. UBS Group raised their price target on Newmont from $60.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, July 3rd. Wall Street Zen raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Friday, May 30th. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. Finally, Cfra Research upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.45.

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.