Steward Partners Investment Advisory LLC Sells 11,173 Shares of Newmont Co. (NYSE:NEM)

Steward Partners Investment Advisory LLC cut its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 28.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,455 shares of the basic materials company's stock after selling 11,173 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Newmont were worth $1,022,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Avior Wealth Management LLC increased its position in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new stake in Newmont in the 3rd quarter valued at approximately $28,000. McIlrath & Eck LLC increased 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 valued at $43,000 after acquiring an additional 361 shares during the period. HHM Wealth Advisors LLC increased 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 valued at $33,000 after acquiring an additional 350 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in Newmont in the 3rd quarter valued at approximately $52,000. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

Shares of NEM traded up $2.00 during trading hours on Thursday, hitting $45.63. 11,801,634 shares of the company were exchanged, compared to its average volume of 9,583,820. The company has a market capitalization of $51.42 billion, a PE ratio of 15.57, a PEG ratio of 0.41 and a beta of 0.54. 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 firm has a fifty day simple moving average of $43.03 and a 200-day simple moving average of $45.85. Newmont Co. has a one year low of $33.29 and a one year high of $58.72.

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Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.19%. Newmont's dividend payout ratio (DPR) is presently 34.13%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company's stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company's stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock valued at $1,388,758 over the last quarter. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on NEM shares. CLSA started coverage on Newmont in a research report on Friday, November 29th. They issued an "underperform" rating on the stock. TD Securities lowered their target price on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group initiated 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. Royal Bank of Canada increased their price target on Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. Finally, Scotiabank decreased their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.16.

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.