Arkadios Wealth Advisors Sells 7,173 Shares of Newmont Co. (NYSE:NEM)

Arkadios Wealth Advisors reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 21.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,116 shares of the basic materials company’s stock after selling 7,173 shares during the quarter. Arkadios Wealth Advisors’ holdings in Newmont were worth $972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Heathbridge Capital Management Ltd. boosted its holdings in shares of Newmont by 2.0% in the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after buying an additional 200 shares during the last quarter. E. Ohman J or Asset Management AB raised its position in Newmont by 0.4% during the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after acquiring an additional 200 shares in the last quarter. Fulton Bank N.A. lifted its stake in Newmont by 1.5% in the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after acquiring an additional 221 shares during the last quarter. Carmel Capital Partners LLC grew its position in shares of Newmont by 4.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 226 shares during the period. Finally, Good Life Advisors LLC increased its stake in shares of Newmont by 4.6% during the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 229 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on NEM. The Goldman Sachs Group assumed coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Royal Bank of Canada decreased their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. Veritas raised Newmont to a “strong-buy” rating in a report on Monday, September 30th. Jefferies Financial Group upped their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Bernstein Bank raised their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

Newmont Stock Up 0.2 %

Shares of NEM opened at $41.72 on Tuesday. The firm has a 50 day simple moving average of $40.29 and a two-hundred day simple moving average of $46.89. The company has a market cap of $47.50 billion, a P/E ratio of -27.45, a P/E/G ratio of 0.31 and a beta of 0.50. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share. Newmont’s quarterly revenue was up 84.7% compared to the same quarter last year. Research analysts forecast that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Newmont’s dividend payout ratio is -65.79%.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,077 shares of company stock valued at $563,080 in the last quarter. Insiders own 0.06% of the company’s stock.

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.