Newmont Co. (NYSE:NEM) Stock Position Lowered by Private Advisor Group LLC

Private Advisor Group LLC trimmed its position in shares of Newmont Co. (NYSE:NEM) by 17.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,434 shares of the basic materials company’s stock after selling 17,678 shares during the period. Private Advisor Group LLC’s holdings in Newmont were worth $4,513,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in shares of Newmont by 7.5% during the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 529 shares during the period. Herr Investment Group LLC acquired a new stake in shares of Newmont during the 2nd quarter valued at $419,000. Truist Financial Corp increased its stake in shares of Newmont by 8.1% in the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock worth $6,295,000 after acquiring an additional 11,276 shares during the last quarter. Primoris Wealth Advisors LLC acquired a new position in shares of Newmont in the second quarter worth $607,000. Finally, Forsta AP Fonden raised its holdings in shares of Newmont by 9.6% during the first quarter. Forsta AP Fonden now owns 252,100 shares of the basic materials company’s stock worth $9,035,000 after acquiring an additional 22,100 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 1.7 %

Shares of Newmont stock opened at $48.42 on Friday. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company’s fifty day simple moving average is $53.39 and its 200-day simple moving average is $46.82. The company has a market cap of $55.56 billion, a price-to-earnings ratio of -22.84, a PEG ratio of 0.49 and a beta of 0.50. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, sell-side analysts expect that Newmont Co. will post 3.07 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. Newmont’s dividend payout ratio is currently -47.17%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NEM. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. BMO Capital Markets increased their price objective on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group lifted their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Raymond James increased their price target on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and lifted their price objective for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.85.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,000 shares of company stock valued at $3,434,640. 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.