Lowe Wealth Advisors LLC Sells 500 Shares of Newmont Co. (NYSE:NEM)

Lowe Wealth Advisors LLC reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 33.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 990 shares of the basic materials company’s stock after selling 500 shares during the quarter. Lowe Wealth Advisors LLC’s holdings in Newmont were worth $37,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in shares of Newmont during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in shares of Newmont in the 2nd quarter valued at about $27,000. Hoese & Co LLP bought a new stake in shares of Newmont in the 3rd quarter valued at about $27,000. Avior Wealth Management LLC increased its position in Newmont by 191.8% during the third 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 during the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in Newmont in the 3rd quarter valued at $28,000. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NEM traded down $0.04 during mid-day trading on Friday, reaching $39.09. The company had a trading volume of 9,759,744 shares, compared to its average volume of 7,778,025. The company’s 50 day simple moving average is $40.86 and its 200 day simple moving average is $46.88. The company has a market capitalization of $44.50 billion, a price-to-earnings ratio of -25.72, a P/E/G ratio of 0.35 and a beta of 0.50. 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 quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share 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 the consensus estimate of $4.67 billion. During the same period in the previous year, the firm posted $0.36 EPS. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. Analysts expect that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Wednesday, November 27th. Newmont’s payout ratio is currently -65.79%.

Insiders Place Their Bets

In related news, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction dated 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 transaction, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

NEM has been the topic of several research analyst reports. CLSA started coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. Jefferies Financial Group increased their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. Finally, UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $54.31.

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.