Checchi Capital Advisers LLC Has $381,000 Stock Holdings in Newmont Corporation $NEM

Checchi Capital Advisers LLC trimmed its position in Newmont Corporation (NYSE:NEM) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,548 shares of the basic materials company’s stock after selling 522 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Newmont were worth $381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. boosted its stake in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 201 shares during the last quarter. Cloud Capital Management LLC bought a new position in Newmont in the first quarter valued at approximately $26,000. Colonial Trust Advisors boosted its stake in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 429 shares during the last quarter. Private Trust Co. NA grew its holdings in Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 347 shares during the period. Finally, Alpine Bank Wealth Management bought a new stake in shares of Newmont during the 1st quarter valued at $32,000. 68.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BNP Paribas cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Stifel Canada upgraded Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Stifel Nicolaus began coverage on Newmont in a research note on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price target for the company. National Bankshares reissued an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Finally, Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the transaction, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the sale, the director directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,249 shares of company stock worth $1,132,065. Corporate insiders own 0.05% of the company’s stock.

Newmont Trading Up 2.0%

NYSE:NEM opened at $88.60 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The business’s 50-day simple moving average is $74.87 and its 200-day simple moving average is $61.56. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $89.37. The stock has a market capitalization of $97.32 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. Sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont’s dividend payout ratio is presently 17.95%.

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.