Newmont Corporation $NEM Shares Sold by 180 Wealth Advisors LLC

180 Wealth Advisors LLC lessened its stake in Newmont Corporation (NYSE:NEM) by 15.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,873 shares of the basic materials company’s stock after selling 2,835 shares during the period. 180 Wealth Advisors LLC’s holdings in Newmont were worth $925,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Concord Wealth Partners lifted its holdings in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares during the period. Evermay Wealth Management LLC lifted its holdings in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares during the period. Cloud Capital Management LLC acquired a new position in shares of Newmont in the 1st quarter valued at about $26,000. Colonial Trust Advisors increased its stake in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after buying an additional 429 shares in the last quarter. Finally, Financial Management Professionals Inc. increased its stake in Newmont by 274.1% during the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock worth $35,000 after buying an additional 444 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of several research reports. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $71.50 to $114.00 in a research note on Thursday. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. BNP Paribas lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Finally, Citigroup upped their price target on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average price target of $90.59.

Insider Transactions at Newmont

In other news, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the transaction, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock worth $1,132,065 over the last ninety days. Company insiders own 0.05% of the company’s stock.

Newmont Price Performance

NEM stock opened at $83.25 on Friday. The firm has a market capitalization of $91.45 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.60 and a beta of 0.34. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58. 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 has a 50 day simple moving average of $81.17 and a 200-day simple moving average of $65.41.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.69% and a net margin of 33.42%.The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. Equities research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

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.