MONECO Advisors LLC Cuts Stock Position in Newmont Co. (NYSE:NEM)

MONECO Advisors LLC decreased its holdings in shares of Newmont Co. (NYSE:NEM) by 8.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,219 shares of the basic materials company’s stock after selling 1,000 shares during the period. MONECO Advisors LLC’s holdings in Newmont were worth $418,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NEM. Avior Wealth Management LLC lifted its holdings in shares of 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 last quarter. Prospera Private Wealth LLC purchased a new stake in Newmont during the third quarter valued at approximately $28,000. Highline Wealth Partners LLC bought a new stake in shares of Newmont in the 3rd quarter valued at approximately $32,000. HHM Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 350 shares during the last quarter. Finally, McIlrath & Eck LLC increased its position in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Bernstein Bank raised their price target on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. Finally, Royal Bank of Canada upped their target price on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.37.

Insider Buying and Selling at Newmont

In related news, Director Harry M. Iv Conger acquired 9,498 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

Shares of Newmont stock opened at $44.05 on Tuesday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The stock’s fifty day moving average price is $41.64 and its 200-day moving average price is $46.42. The firm has a market cap of $50.14 billion, a P/E ratio of 15.03, a P/E/G ratio of 0.41 and a beta of 0.52. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. On average, equities research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.27%. Newmont’s dividend payout ratio is currently 34.13%.

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.