Newmont Co. (NYSE:NEM) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance reduced its position in Newmont Co. (NYSE:NEM) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,012 shares of the basic materials company’s stock after selling 440 shares during the quarter. Independent Advisor Alliance’s holdings in Newmont were worth $589,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its holdings in shares of Newmont by 662.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 16,563 shares of the basic materials company’s stock worth $885,000 after purchasing an additional 14,391 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Newmont during the third quarter worth $1,083,000. Daiwa Securities Group Inc. lifted its holdings in shares of Newmont by 22.1% during the third quarter. Daiwa Securities Group Inc. now owns 185,395 shares of the basic materials company’s stock worth $9,909,000 after purchasing an additional 33,614 shares during the period. Pekin Hardy Strauss Inc. lifted its holdings in shares of Newmont by 5.9% during the third quarter. Pekin Hardy Strauss Inc. now owns 67,855 shares of the basic materials company’s stock worth $3,627,000 after purchasing an additional 3,773 shares during the period. Finally, Summit Trail Advisors LLC lifted its holdings in shares of Newmont by 12.6% during the third quarter. Summit Trail Advisors LLC now owns 32,940 shares of the basic materials company’s stock worth $1,761,000 after purchasing an additional 3,679 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Up 0.1 %

Shares of NEM stock opened at $42.04 on Thursday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The stock has a market cap of $47.86 billion, a P/E ratio of -27.66, a P/E/G ratio of 0.37 and a beta of 0.51. The business has a fifty day simple moving average of $49.57 and a 200-day simple moving average of $47.47. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. On average, analysts forecast that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio is presently -65.79%.

Insider Buying and Selling

In other Newmont 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 value of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent research reports. Bernstein Bank increased their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Veritas raised Newmont to a “strong-buy” rating in a report on Monday, September 30th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and reduced their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Eight equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.31.

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.