Newmont Co. (NYSE:NEM) Shares Sold by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV cut its holdings in Newmont Co. (NYSE:NEM) by 29.7% during the third quarter, HoldingsChannel reports. The fund owned 2,167 shares of the basic materials company’s stock after selling 915 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Newmont were worth $116,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NEM. LRI Investments LLC purchased a new stake in shares of Newmont during the first quarter worth $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont during the second quarter worth $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont during the second quarter worth $27,000. Hoese & Co LLP purchased a new stake in shares of Newmont during the third quarter worth $27,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Newmont during the third quarter worth $32,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the sale, the chief executive officer now owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock valued at $2,444,440 over the last quarter. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent research reports. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Royal Bank of Canada lowered their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. Finally, BMO Capital Markets boosted their target price on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.85.

Newmont Stock Performance

NYSE NEM opened at $45.76 on Tuesday. 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 Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a market capitalization of $52.10 billion, a PE ratio of -30.11, a P/E/G ratio of 0.38 and a beta of 0.52. The company has a fifty day moving average of $52.78 and a two-hundred day moving average of $47.27.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the prior year, the business earned $0.36 EPS. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. As a group, analysts expect that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

Newmont Company 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.