Private Advisor Group LLC Sells 3,179 Shares of Newmont Co. (NYSE:NEM)

Private Advisor Group LLC reduced its stake in shares of Newmont Co. (NYSE:NEM) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,255 shares of the basic materials company’s stock after selling 3,179 shares during the quarter. Private Advisor Group LLC’s holdings in Newmont were worth $3,024,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Avior Wealth Management LLC increased its position in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Newmont during the 3rd quarter worth $28,000. Highline Wealth Partners LLC bought a new stake in shares of Newmont in the third quarter valued at about $32,000. HHM Wealth Advisors LLC grew its holdings in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Finally, McIlrath & Eck LLC raised its holdings in shares of Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

Newmont stock opened at $44.05 on Tuesday. The company has a fifty day simple moving average of $41.64 and a 200-day simple moving average of $46.42. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $50.14 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 0.41 and a beta of 0.52. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, equities analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NEM. Scotiabank reduced their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Raymond James decreased their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $53.37.

Insider Buying and Selling at Newmont

In other news, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares in the company, valued at $611,090.70. The trade was a 189.96 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,154 shares of company stock worth $1,166,843 in the last three months. 0.06% of the stock is owned by corporate insiders.

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.