5,000 Shares in Newmont Co. (NYSE:NEM) Acquired by Alpha Wealth Funds LLC

Alpha Wealth Funds LLC bought a new stake in shares of Newmont Co. (NYSE:NEM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,000 shares of the basic materials company’s stock, valued at approximately $241,000.

Other hedge funds have also added to or reduced their stakes in the company. Nexus Investment Management ULC bought a new stake in Newmont during the first quarter valued at approximately $31,000. HHM Wealth Advisors LLC boosted its stake in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. Redwood Park Advisors LLC bought a new stake in shares of Newmont during the 4th quarter valued at $37,000. Promus Capital LLC purchased a new stake in shares of Newmont in the 4th quarter worth $38,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Newmont in the 4th quarter worth $43,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on NEM shares. Cfra Research raised Newmont to a “strong-buy” rating in a report on Friday, April 25th. Raymond James reiterated an “outperform” rating and set a $66.00 price objective on shares of Newmont in a research note on Friday, April 25th. National Bank Financial raised shares of Newmont to a “hold” rating in a report on Friday, March 21st. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and raised their target price for the stock from $50.00 to $60.00 in a research note on Friday, April 11th. Finally, Royal Bank of Canada upped their price target on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $56.52.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business’s 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 in the company, valued at $2,432,790.36. The trade was a 4.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.05% of the stock is owned by company insiders.

Newmont Trading Down 0.3%

Shares of NEM stock opened at $55.41 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $61.67 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. Newmont Co. has a 12-month low of $36.86 and a 12-month high of $58.72. The stock’s 50-day moving average price is $51.81 and its 200-day moving average price is $45.76.

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 analysts’ consensus estimates of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same quarter in the previous year, the company posted $0.55 EPS. Equities research analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont’s payout ratio is 22.42%.

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.