Checchi Capital Advisers LLC Has $228,000 Stock Position in Newmont Co. (NYSE:NEM)

Checchi Capital Advisers LLC lessened its stake in shares of Newmont Co. (NYSE:NEM) by 8.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,131 shares of the basic materials company’s stock after selling 571 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Newmont were worth $228,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC increased its position 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 worth $27,000 after acquiring an additional 326 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Newmont during the 3rd quarter worth approximately $28,000. Highline Wealth Partners LLC acquired a new stake in Newmont during the 3rd quarter valued at $32,000. HHM Wealth Advisors LLC raised its stake in Newmont by 66.0% during 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 period. Finally, McIlrath & Eck LLC lifted its holdings in shares of Newmont by 80.6% in the third 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 in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on NEM. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Raymond James lowered their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. Finally, CLSA assumed coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Price Performance

Shares of Newmont stock opened at $42.06 on Friday. Newmont Co. has a twelve month low of $29.42 and a twelve 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 firm has a market cap of $47.39 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The firm’s 50-day simple moving average is $41.92 and its 200-day simple moving average is $46.34.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion for 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, research analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.38%. Newmont’s dividend payout ratio is currently 34.13%.

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.