Newmont Co. (NYSE:NEM) Shares Sold by Avaii Wealth Management LLC

Avaii Wealth Management LLC decreased its position in shares of Newmont Co. (NYSE:NEM) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,780 shares of the basic materials company’s stock after selling 432 shares during the period. Avaii Wealth Management LLC’s holdings in Newmont were worth $416,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Hoese & Co LLP acquired a new position in Newmont during the third quarter worth approximately $27,000. Meeder Asset Management Inc. acquired a new position in Newmont during the second quarter worth approximately $27,000. LRI Investments LLC acquired a new position in Newmont during the first quarter worth approximately $25,000. Heritage Wealth Advisors grew its stake in shares of Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of Newmont in the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock worth $3,434,640 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NEM. Jefferies Financial Group lifted their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and lifted their target price for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Veritas upgraded Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $48.00 to $59.00 in a research note on Monday, August 19th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

Newmont Price Performance

Newmont stock traded up $0.48 during trading hours on Thursday, hitting $56.75. The stock had a trading volume of 1,798,647 shares, compared to its average volume of 10,159,235. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The stock has a market capitalization of $65.44 billion, a price-to-earnings ratio of -21.07, a PEG ratio of 0.43 and a beta of 0.50. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $57.32. The stock’s fifty day moving average is $52.51 and its two-hundred day moving average is $46.04.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. Newmont’s revenue was up 64.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. As a group, analysts predict that Newmont Co. will post 3.1 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is -37.45%.

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.