Integrated Wealth Concepts LLC Sells 2,374 Shares of Newmont Co. (NYSE:NEM)

Integrated Wealth Concepts LLC cut its stake in Newmont Co. (NYSE:NEM) by 11.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,501 shares of the basic materials company’s stock after selling 2,374 shares during the period. Integrated Wealth Concepts LLC’s holdings in Newmont were worth $935,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new position in shares of Newmont in the 2nd quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in Newmont in the second quarter worth approximately $27,000. Hoese & Co LLP acquired a new position in Newmont in the third quarter valued at approximately $27,000. Avior Wealth Management LLC boosted its holdings in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Newmont during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. Royal Bank of Canada cut their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

Insider Activity

In other news, Director Harry M. Iv Conger acquired 9,498 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now owns 14,498 shares in the company, valued at $611,090.70. The trade was a 189.96 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Newmont Price Performance

NEM opened at $41.73 on Tuesday. Newmont Co. has a 1 year low of $29.42 and a 1 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. The company has a market capitalization of $47.51 billion, a price-to-earnings ratio of -27.45, a P/E/G ratio of 0.35 and a beta of 0.49. The firm’s fifty day moving average price is $47.48 and its two-hundred day moving average price is $47.41.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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 firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current fiscal 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is currently -65.79%.

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.