IVC Wealth Advisors LLC Has $599,000 Position in Newmont Co. (NYSE:NEM)

IVC Wealth Advisors LLC increased its stake in shares of Newmont Co. (NYSE:NEM) by 14.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,700 shares of the basic materials company’s stock after purchasing an additional 2,113 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Newmont were worth $599,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Grey Street Capital LLC raised its position in Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after acquiring an additional 289 shares in the last quarter. Moody National Bank Trust Division raised its position in Newmont by 1.7% during the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock valued at $647,000 after acquiring an additional 296 shares in the last quarter. Reitz Capital Advisors LLC raised its position in Newmont by 1.1% during the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after acquiring an additional 298 shares in the last quarter. Berkeley Capital Partners LLC raised its position in Newmont by 5.6% during the fourth quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock valued at $247,000 after acquiring an additional 318 shares in the last quarter. Finally, Crestmont Private Wealth LLC raised its position in Newmont by 4.9% during the first quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 319 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent analyst reports. TD Securities lifted their price target on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Scotiabank lifted their price target on shares of Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a research report on Thursday, May 23rd. StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Finally, Bank of America lifted their price target on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.13.

Newmont Stock Performance

NEM traded up $1.71 during trading on Wednesday, reaching $43.42. 5,732,432 shares of the company’s stock were exchanged, compared to its average volume of 11,741,490. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $45.92. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $41.83 and a 200 day moving average price of $38.11. The company has a market capitalization of $50.07 billion, a P/E ratio of -16.27, a PEG ratio of 0.35 and a beta of 0.47.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. The business’s revenue was up 50.2% compared to the same quarter last year. As a group, analysts predict that Newmont Co. will post 2.48 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. Newmont’s dividend payout ratio is presently -37.45%.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the sale, the chief executive officer now owns 331,469 shares in the company, valued at approximately $13,964,788.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

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.