Crumly & Associates Inc. Purchases Shares of 8,587 Newmont Corporation $NEM

Crumly & Associates Inc. purchased a new stake in Newmont Corporation (NYSE:NEM) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 8,587 shares of the basic materials company’s stock, valued at approximately $500,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEM. Hemington Wealth Management raised its holdings in shares of Newmont by 25.2% in the first quarter. Hemington Wealth Management now owns 965 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 194 shares during the last quarter. Ipswich Investment Management Co. Inc. raised its holdings in shares of Newmont by 1.4% in the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company’s stock valued at $689,000 after purchasing an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. raised its holdings in shares of Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 201 shares during the last quarter. Rothschild Investment LLC raised its holdings in shares of Newmont by 8.5% in the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 219 shares during the last quarter. Finally, Twin Capital Management Inc. raised its holdings in shares of Newmont by 0.7% in the first quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company’s stock valued at $1,873,000 after purchasing an additional 254 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

NEM opened at $79.25 on Friday. The firm has a 50-day moving average price of $67.46 and a 200-day moving average price of $57.05. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $80.07. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $87.05 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.96 and a beta of 0.34.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the firm earned $0.72 EPS. Newmont’s revenue for the quarter was up 20.8% on a year-over-year basis. Equities analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. This trade represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,246 shares of company stock worth $1,253,559. 0.05% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group increased their target price on shares of Newmont from $60.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, July 3rd. Macquarie downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. National Bankshares upgraded shares of Newmont from a “sector perform” rating to an “outperform” rating in a report on Friday, July 25th. CIBC set a $74.00 price objective on shares of Newmont and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Finally, Stifel Nicolaus began coverage on shares of Newmont in a report on Wednesday, July 9th. They set a “buy” rating and a $73.00 price objective for the company. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $67.38.

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.