Newmont Co. (NYSE:NEM) Shares Sold by Primoris Wealth Advisors LLC

Primoris Wealth Advisors LLC cut its holdings in shares of Newmont Co. (NYSE:NEM) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,000 shares of the basic materials company’s stock after selling 500 shares during the period. Primoris Wealth Advisors LLC’s holdings in Newmont were worth $748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hoese & Co LLP acquired a new position in shares of Newmont during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in Newmont during the third quarter valued at approximately $32,000. Meeder Asset Management Inc. bought a new stake in Newmont during the second quarter worth approximately $27,000. LRI Investments LLC bought a new stake in Newmont during the first quarter worth approximately $25,000. Finally, Northwest Investment Counselors LLC acquired a new position in Newmont in the third quarter worth approximately $48,000. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NEM. Royal Bank of Canada reduced their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday, August 29th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $53.85.

Newmont Stock Down 0.3 %

NYSE:NEM traded down $0.12 during trading hours on Friday, reaching $45.04. The company’s stock had a trading volume of 10,453,600 shares, compared to its average volume of 11,803,636. 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 cap of $51.28 billion, a price-to-earnings ratio of -29.63, a price-to-earnings-growth ratio of 0.37 and a beta of 0.51. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The business’s 50-day moving average is $52.17 and its 200-day moving average is $47.34.

Newmont (NYSE:NEM) last released 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 positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter last year, the company posted $0.36 EPS. The business’s revenue was up 84.7% compared to the same quarter last year. Equities research analysts predict that Newmont Co. will post 3.15 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio is -65.79%.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by insiders.

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.