Newmont Corporation (NYSE:NEM) Shares Acquired by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC increased its position in shares of Newmont Corporation (NYSE:NEM) by 71.3% in the 1st quarter, HoldingsChannel reports. The firm owned 16,048 shares of the basic materials company’s stock after purchasing an additional 6,677 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Newmont were worth $775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. lifted its holdings in shares of 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 buying an additional 201 shares during the period. Nexus Investment Management ULC acquired a new stake in Newmont in the first quarter valued at $31,000. Redwood Park Advisors LLC purchased a new stake in shares of Newmont during the 4th quarter worth $37,000. Promus Capital LLC acquired a new position in shares of Newmont during the 4th quarter worth $38,000. Finally, PSI Advisors LLC increased its holdings in shares of Newmont by 195.5% in the 1st quarter. PSI Advisors LLC now owns 795 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 526 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $58.12 on Wednesday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $60.31. The business’s 50-day simple moving average is $54.02 and its 200-day simple moving average is $47.23. 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 has a market capitalization of $64.69 billion, a P/E ratio of 13.03, a P/E/G ratio of 0.78 and a beta of 0.31.

Newmont (NYSE:NEM) last released its quarterly earnings data 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 company had revenue of $5.01 billion during 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 prior year, the business earned $0.55 earnings per share. Equities analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 22.42%.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the transaction, the director now directly owns 45,180 shares in the company, valued at approximately $2,443,786.20. This represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president now directly owns 77,526 shares of the company’s stock, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock worth $381,539 over the last quarter. 0.05% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NEM has been the topic of a number of research analyst reports. TD Securities decreased their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and upped their price target for the stock from $50.00 to $60.00 in a report on Friday, April 11th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Newmont in a report on Thursday, April 24th. Royal Bank Of Canada increased their price objective on shares of Newmont from $52.00 to $66.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.68.

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.