Janney Montgomery Scott LLC Sells 3,586 Shares of Newmont Co. (NYSE:NEM)

Janney Montgomery Scott LLC reduced its position in shares of Newmont Co. (NYSE:NEM) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 166,804 shares of the basic materials company’s stock after selling 3,586 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Newmont were worth $8,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in Newmont by 7.5% in the 1st quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 529 shares during the last quarter. Herr Investment Group LLC acquired a new stake in shares of Newmont in the second quarter valued at approximately $419,000. Truist Financial Corp boosted its stake in shares of Newmont by 8.1% during the 2nd quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock worth $6,295,000 after acquiring an additional 11,276 shares during the period. Cetera Trust Company N.A acquired a new position in shares of Newmont during the 3rd quarter worth approximately $705,000. Finally, Primoris Wealth Advisors LLC bought a new stake in Newmont in the 2nd quarter valued at $607,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NEM. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Royal Bank of Canada decreased their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. BMO Capital Markets boosted their target price 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 World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group boosted their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.85.

Newmont Price Performance

Newmont stock opened at $45.16 on Friday. Newmont Co. has a 52 week low of $29.42 and a 52 week 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 stock has a fifty day moving average of $52.49 and a 200-day moving average of $47.30. The stock has a market capitalization of $51.41 billion, a P/E ratio of -29.69, a price-to-earnings-growth ratio of 0.38 and a beta of 0.51.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s revenue was up 84.7% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. On average, sell-side analysts expect that Newmont Co. will post 3.12 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. Newmont’s payout ratio is presently -65.79%.

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.