Fifth Third Wealth Advisors LLC Sells 1,550 Shares of Newmont Co. (NYSE:NEM)

Fifth Third Wealth Advisors LLC lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 10.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,922 shares of the basic materials company’s stock after selling 1,550 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Newmont were worth $744,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in Newmont during the first quarter worth about $25,000. Strategic Financial Concepts LLC bought a new position in Newmont during the second quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont in the second quarter worth about $27,000. Hoese & Co LLP purchased a new stake in shares of Newmont in the third quarter worth about $27,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Newmont in the third quarter worth about $32,000. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NEM shares. 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 report on Friday, October 25th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Finally, Jefferies Financial Group raised 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. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction 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 sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,000 shares of company stock worth $2,444,440. Insiders own 0.06% of the company’s stock.

Newmont Stock Down 0.5 %

Shares of Newmont stock opened at $42.99 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The stock has a market capitalization of $48.94 billion, a price-to-earnings ratio of -28.28, a P/E/G ratio of 0.34 and a beta of 0.51. The company’s 50 day moving average price is $50.63 and its 200-day moving average price is $47.44.

Newmont (NYSE:NEM) last issued its earnings results 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 9.80% and a negative net margin of 7.03%. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the business posted $0.36 EPS. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. Equities research analysts forecast that Newmont Co. will post 3.15 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is -65.79%.

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.