Newmont Co. (NYSE:NEM) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 66.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,112 shares of the basic materials company’s stock after selling 202,770 shares during the period. Private Advisor Group LLC’s holdings in Newmont were worth $4,275,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. American International Group Inc. boosted its position in shares of Newmont by 24.8% in the 4th quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock worth $12,116,000 after buying an additional 58,217 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Newmont by 34.1% during the fourth quarter. Principal Financial Group Inc. now owns 1,280,730 shares of the basic materials company’s stock valued at $53,009,000 after acquiring an additional 325,320 shares in the last quarter. Premier Fund Managers Ltd bought a new stake in shares of Newmont in the 4th quarter worth about $1,276,000. Nations Financial Group Inc. IA ADV acquired a new position in Newmont in the fourth quarter worth $1,167,000. Finally, Virtu Financial LLC bought a new stake in shares of Newmont during the 4th quarter valued at about $3,313,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NEM shares. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $48.00 to $59.00 in a report on Monday, August 19th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Bank of America boosted their price objective on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. BMO Capital Markets increased their price objective on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.46.

Newmont Stock Performance

Shares of NEM stock opened at $51.30 on Wednesday. Newmont Co. has a one year low of $29.42 and a one year high of $53.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The stock has a market cap of $58.86 billion, a P/E ratio of -19.21, a P/E/G ratio of 0.37 and a beta of 0.49. The company has a fifty day moving average price of $48.80 and a two-hundred day moving average price of $42.41.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The business’s revenue was up 64.1% on a year-over-year basis. As a group, equities analysts predict that Newmont Co. will post 2.82 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.95%. Newmont’s payout ratio is -37.45%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred 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 owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 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 transaction of $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,000 shares of company stock valued at $2,744,700. 0.06% of the stock is currently owned by insiders.

About Newmont

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.