First Affirmative Financial Network Invests $207,000 in Newmont Co. (NYSE:NEM)

First Affirmative Financial Network bought a new position in shares of Newmont Co. (NYSE:NEM) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,282 shares of the basic materials company’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Radnor Capital Management LLC lifted its position in shares of Newmont by 9.0% during the first quarter. Radnor Capital Management LLC now owns 19,945 shares of the basic materials company’s stock worth $963,000 after purchasing an additional 1,650 shares during the last quarter. Eagle Rock Investment Company LLC lifted its position in shares of Newmont by 4.2% during the first quarter. Eagle Rock Investment Company LLC now owns 19,447 shares of the basic materials company’s stock worth $939,000 after purchasing an additional 791 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Newmont during the first quarter worth $269,000. Procyon Advisors LLC lifted its position in shares of Newmont by 5.8% during the first quarter. Procyon Advisors LLC now owns 14,881 shares of the basic materials company’s stock worth $718,000 after purchasing an additional 817 shares during the last quarter. Finally, Pinnacle Wealth Management Group Inc. bought a new stake in shares of Newmont during the first quarter worth $211,000. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NEM has been the subject of several research analyst reports. National Bankshares reiterated a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. BMO Capital Markets restated an “outperform” rating on shares of Newmont in a report on Thursday, April 24th. Argus set a $63.00 price objective on Newmont in a report on Friday, April 25th. 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 report on Friday, April 11th. Finally, Cfra Research upgraded Newmont to a “strong-buy” rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.68.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the company’s 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 sale, the director now owns 45,180 shares in the company, valued at $2,443,786.20. This represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the sale, the executive vice president now owns 77,526 shares in the company, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,154 shares of company stock worth $381,539. Insiders own 0.05% of the company’s stock.

Newmont Price Performance

Shares of NEM stock opened at $52.36 on Friday. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The firm has a market capitalization of $58.28 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 0.41 and a beta of 0.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock’s 50-day simple moving average is $52.16 and its 200-day simple moving average is $45.99.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. As a group, equities analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.91%. 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.