PSI Advisors LLC Buys 526 Shares of Newmont Corporation (NYSE:NEM)

PSI Advisors LLC grew its stake in Newmont Corporation (NYSE:NEM) by 195.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 795 shares of the basic materials company’s stock after purchasing an additional 526 shares during the quarter. PSI Advisors LLC’s holdings in Newmont were worth $38,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. SOA Wealth Advisors LLC. lifted its stake in Newmont by 64.0% during 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 purchased a new position in Newmont during the first quarter worth about $31,000. Grove Bank & Trust boosted its holdings in Newmont by 84.0% during the first quarter. Grove Bank & Trust now owns 911 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 416 shares during the last quarter. Redwood Park Advisors LLC bought a new stake in Newmont in the 4th quarter worth about $37,000. Finally, CVA Family Office LLC increased its stake in Newmont by 54.1% in the 1st quarter. CVA Family Office LLC now owns 1,011 shares of the basic materials company’s stock valued at $49,000 after buying an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NEM shares. National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday, March 21st. Cfra Research raised Newmont to a “strong-buy” rating in a research report on Friday, April 25th. 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. BMO Capital Markets reissued an “outperform” rating on shares of Newmont in a report on Thursday, April 24th. Finally, National Bankshares restated a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $57.68.

Newmont Stock Performance

Shares of NEM stock opened at $58.27 on Thursday. The firm’s 50 day moving average is $53.64 and its 200 day moving average is $46.71. The stock has a market capitalization of $64.85 billion, a P/E ratio of 13.06, a PEG ratio of 0.99 and a beta of 0.31. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $59.03. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last posted its 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. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. On average, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. Newmont’s dividend payout ratio (DPR) is 22.42%.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the sale, the director now directly owns 47,257 shares of the company’s stock, valued at approximately $2,432,790.36. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’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 transaction of $162,270.00. Following the completion of the transaction, the executive vice president now owns 77,526 shares of the company’s stock, valued at $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $381,539 in the last quarter. 0.05% of the stock is owned by company insiders.

Newmont Company 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.