Prime Capital Investment Advisors LLC Decreases Stake in Newmont Co. (NYSE:NEM)

Prime Capital Investment Advisors LLC trimmed its holdings in Newmont Co. (NYSE:NEM) by 40.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,500 shares of the basic materials company’s stock after selling 14,070 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Newmont were worth $1,096,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of Newmont by 102.9% in the first quarter. Empowered Funds LLC now owns 25,453 shares of the basic materials company’s stock valued at $912,000 after purchasing an additional 12,908 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Newmont by 67.5% during the 1st quarter. Sei Investments Co. now owns 203,859 shares of the basic materials company’s stock worth $7,307,000 after acquiring an additional 82,165 shares during the period. US Bancorp DE grew its holdings in shares of Newmont by 12.0% in the first quarter. US Bancorp DE now owns 138,203 shares of the basic materials company’s stock valued at $4,953,000 after purchasing an additional 14,857 shares during the period. Blair William & Co. IL increased its position in Newmont by 4.4% during the first quarter. Blair William & Co. IL now owns 31,636 shares of the basic materials company’s stock worth $1,134,000 after purchasing an additional 1,339 shares during the last quarter. Finally, M&G Plc purchased a new position in Newmont during the first quarter worth about $2,834,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $2,444,440 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $40.67 on Friday. The company has a market cap of $46.30 billion, a price-to-earnings ratio of -26.76, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a fifty day simple moving average of $51.52 and a two-hundred day simple moving average of $47.41.

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

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. Newmont’s dividend payout ratio is currently -65.79%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NEM shares. Raymond James raised their price target on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday, August 29th. BMO Capital Markets lifted their target price on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada lowered their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Finally, Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $54.14.

Newmont 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.