Wealth Alliance Sells 4,896 Shares of Newmont Co. (NYSE:NEM)

Wealth Alliance decreased its position in shares of Newmont Co. (NYSE:NEM) by 43.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,389 shares of the basic materials company’s stock after selling 4,896 shares during the quarter. Wealth Alliance’s holdings in Newmont were worth $267,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NEM. Meeder Asset Management Inc. purchased a new stake in shares of Newmont during the second quarter worth $27,000. LRI Investments LLC bought a new stake in shares of Newmont during the 1st quarter valued at $25,000. Heritage Wealth Advisors lifted its holdings in Newmont by 1,310.4% during the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 878 shares in the last quarter. Crewe Advisors LLC bought a new position in Newmont in the 1st quarter worth about $35,000. Finally, Rise Advisors LLC grew its holdings in Newmont by 2,373.2% during the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock valued at $36,000 after buying an additional 973 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through the SEC website. In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s 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 transaction, the chief executive officer now owns 331,469 shares in the company, valued at $13,964,788.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred 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 sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. The disclosure for this sale can be found here. Insiders sold 56,000 shares of company stock worth $2,744,700 in the last ninety days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NEM shares. UBS Group raised their price objective on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $48.00 to $59.00 in a report on Monday, August 19th. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. Bank of America lifted their price objective on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.62.

Newmont Stock Up 1.8 %

Shares of NYSE NEM opened at $54.47 on Friday. The stock has a market capitalization of $62.81 billion, a P/E ratio of -20.40, a PEG ratio of 0.37 and a beta of 0.49. Newmont Co. has a one year low of $29.42 and a one year high of $54.93. The firm’s 50 day simple moving average is $50.10 and its two-hundred day simple moving average is $43.47. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS. As a group, analysts expect that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

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.