Prospera Financial Services Inc Decreases Stock Holdings in Newmont Co. (NYSE:NEM)

Prospera Financial Services Inc decreased its position in Newmont Co. (NYSE:NEM) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,979 shares of the basic materials company’s stock after selling 465 shares during the quarter. Prospera Financial Services Inc’s holdings in Newmont were worth $3,259,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Waverton Investment Management Ltd increased its position in shares of Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock valued at $28,379,000 after acquiring an additional 65,075 shares during the period. Red Cedar Investment Management LLC purchased a new position in shares of Newmont during the third quarter valued at about $1,263,000. Bessemer Group Inc. increased its position in shares of Newmont by 7.5% during the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock valued at $271,000 after buying an additional 529 shares during the period. Herr Investment Group LLC purchased a new position in shares of Newmont during the second quarter valued at about $419,000. Finally, Truist Financial Corp increased its position in shares of Newmont by 8.1% during the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock valued at $6,295,000 after buying an additional 11,276 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at approximately $4,963,452.12. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,000 shares of company stock worth $2,444,440. Insiders own 0.06% of the company’s stock.

Newmont Trading Down 0.5 %

Shares of Newmont stock opened at $42.99 on Thursday. The stock has a market capitalization of $48.94 billion, a PE ratio of -28.28, a P/E/G ratio of 0.34 and a beta of 0.51. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The company’s fifty day simple moving average is $50.63 and its 200-day simple moving average is $47.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 earnings per share. As a group, equities analysts anticipate that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. Newmont’s dividend payout ratio is currently -65.79%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NEM shares. Bernstein Bank boosted their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. BMO Capital Markets boosted their price target on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.14.

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.