NewEdge Advisors LLC Sells 5,194 Shares of Newmont Co. (NYSE:NEM)

NewEdge Advisors LLC reduced its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,502 shares of the basic materials company's stock after selling 5,194 shares during the quarter. NewEdge Advisors LLC's holdings in Newmont were worth $503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of NEM. McIlrath & Eck LLC raised its position in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock worth $43,000 after buying an additional 361 shares during the last quarter. HHM Wealth Advisors LLC raised its position in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after buying an additional 350 shares during the last quarter. Redwood Park Advisors LLC purchased a new position in Newmont in the 4th quarter worth about $37,000. Promus Capital LLC purchased a new position in Newmont in the 4th quarter worth about $38,000. Finally, Kestra Investment Management LLC purchased a new position in Newmont in the 4th quarter worth about $43,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Down 3.2 %

NEM stock opened at $53.93 on Monday. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company has a market capitalization of $60.79 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 0.41 and a beta of 0.54. The business has a 50 day simple moving average of $47.89 and a two-hundred day simple moving average of $45.07.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Research analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. Newmont's dividend payout ratio (DPR) is 22.42%.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent analyst reports. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. National Bank Financial raised Newmont to a "hold" rating in a research report on Friday, March 21st. The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 price target for the company. Raymond James boosted their price target on Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Finally, UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and boosted their price target for the company from $50.00 to $60.00 in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.40.

Insider Activity at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the sale, the chief operating officer now directly owns 136,967 shares in the company, valued at $5,874,514.63. This trade represents a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the sale, the executive vice president now owns 79,596 shares of the company's stock, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,154 shares of company stock worth $825,678. Company insiders own 0.05% of the company's stock.

Newmont Company 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.

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