Newmont Co. (NYSE:NEM) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lessened its stake in Newmont Co. (NYSE:NEM - Free Report) by 34.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 66,549 shares of the basic materials company's stock after selling 34,335 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Newmont were worth $3,555,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new position in Newmont during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in Newmont during the second quarter worth about $27,000. Hoese & Co LLP acquired a new stake in shares of Newmont during the third quarter worth about $27,000. Avior Wealth Management LLC grew its holdings in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Newmont during the third quarter worth $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

Newmont stock traded down $1.34 during midday trading on Friday, hitting $40.22. 11,263,911 shares of the company's stock were exchanged, compared to its average volume of 10,461,683. The firm's 50 day simple moving average is $46.50 and its 200 day simple moving average is $47.35. Newmont Co. has a 12-month low of $29.42 and a 12-month 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. The stock has a market cap of $45.79 billion, a price-to-earnings ratio of -26.46, a price-to-earnings-growth ratio of 0.36 and a beta of 0.49.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the firm earned $0.36 EPS. The business's revenue was up 84.7% on a year-over-year basis. Equities research analysts predict that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.49%. Newmont's payout ratio is currently -65.79%.

Insider Buying and Selling

In other news, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on NEM shares. Bernstein Bank raised their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Cibc World Mkts downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. raised Newmont from a "neutral" rating to an "overweight" rating in a research report on Tuesday, November 19th. UBS Group lowered Newmont from a "buy" rating to a "neutral" rating and cut their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, Scotiabank downgraded Newmont from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the company from $59.00 to $55.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.31.

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.