Newmont Corporation $NEM Shares Sold by FNY Investment Advisers LLC

FNY Investment Advisers LLC lessened its position in shares of Newmont Corporation (NYSE:NEM) by 11.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 20,254 shares of the basic materials company’s stock after selling 2,718 shares during the period. FNY Investment Advisers LLC’s holdings in Newmont were worth $1,179,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new stake in Newmont during the first quarter valued at $26,000. Colonial Trust Advisors grew its position in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after buying an additional 429 shares during the period. Concord Wealth Partners grew its position in Newmont by 534.7% during the second 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 grew its position in Newmont by 408.2% during the second 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. Finally, Private Trust Co. NA grew its position in Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after buying an additional 347 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction 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 trade represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s 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 sale, the executive vice president owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,249 shares of company stock worth $1,132,065. Insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on NEM shares. Weiss Ratings lowered shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Macquarie downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the company a “buy” rating in a report on Sunday, October 12th. Raymond James Financial set a $96.00 price objective on shares of Newmont in a report on Friday, October 10th. Finally, Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Four research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.59.

Newmont Stock Performance

NYSE:NEM opened at $86.26 on Wednesday. The company’s 50-day moving average price is $80.11 and its 200-day moving average price is $64.69. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The company has a market cap of $94.75 billion, a P/E ratio of 15.49, a P/E/G ratio of 0.65 and a beta of 0.34. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share 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 company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. On average, sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) 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.