Farther Finance Advisors LLC Decreases Holdings in Newmont Co. (NYSE:NEM)

Farther Finance Advisors LLC trimmed its position in shares of Newmont Co. (NYSE:NEM) by 22.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,252 shares of the basic materials company’s stock after selling 1,804 shares during the period. Farther Finance Advisors LLC’s holdings in Newmont were worth $233,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Avior Wealth Management LLC raised its holdings in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Newmont during the 3rd quarter valued at about $28,000. McIlrath & Eck LLC raised its holdings in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after buying an additional 361 shares in the last quarter. HHM Wealth Advisors LLC raised its holdings in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares in the last quarter. Finally, Promus Capital LLC purchased a new position in shares of Newmont during the 4th quarter valued at about $38,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock worth $1,388,758 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Newmont Trading Up 0.6 %

NYSE NEM opened at $47.79 on Wednesday. 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 twelve month low of $33.29 and a twelve month high of $58.72. The firm has a market capitalization of $53.85 billion, a PE ratio of 16.31, a P/E/G ratio of 0.41 and a beta of 0.54. The stock’s 50 day moving average is $43.59 and its 200 day moving average is $45.64.

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

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.09%. Newmont’s dividend payout ratio is presently 34.13%.

Analyst Ratings Changes

A number of equities analysts have commented on NEM shares. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Royal Bank of Canada lifted their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. TD Securities decreased their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, Raymond James decreased their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $53.16.

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.