Newmont Co. (NYSE:NEM) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. cut its holdings in shares of Newmont Co. (NYSE:NEM) by 22.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,557 shares of the basic materials company’s stock after selling 2,498 shares during the period. Kovack Advisors Inc.’s holdings in Newmont were worth $307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Grey Street Capital LLC raised its stake in Newmont by 0.4% during the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after purchasing an additional 289 shares during the period. Moody National Bank Trust Division raised its stake in Newmont by 1.7% during the 1st quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock valued at $647,000 after purchasing an additional 296 shares during the period. Reitz Capital Advisors LLC increased its stake in shares of Newmont by 1.1% in the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after acquiring an additional 298 shares during the last quarter. Berkeley Capital Partners LLC increased its stake in shares of Newmont by 5.6% in the fourth quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock worth $247,000 after acquiring an additional 318 shares during the last quarter. Finally, Crestmont Private Wealth LLC increased its stake in shares of Newmont by 4.9% in the first quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 319 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NEM shares. Citigroup dropped their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Scotiabank upped their price target on shares of Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $50.00 in a research note on Monday, June 17th. BMO Capital Markets dropped their price target on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Finally, Sanford C. Bernstein decreased their price objective on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a report on Thursday, May 16th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $49.13.

Newmont Stock Up 4.2 %

NEM stock opened at $43.45 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The company has a 50-day moving average of $41.93 and a two-hundred day moving average of $38.14. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $45.92.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s revenue was up 50.2% on a year-over-year basis. Equities analysts anticipate that Newmont Co. will post 2.48 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the transaction, the chief executive officer now owns 331,469 shares of the company’s stock, valued at $13,964,788.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

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.