IVC Wealth Advisors LLC Reduces Stock Holdings in Newmont Co. (NYSE:NEM)

IVC Wealth Advisors LLC lessened its stake in shares of Newmont Co. (NYSE:NEM) by 21.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,971 shares of the basic materials company’s stock after selling 3,620 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Newmont were worth $693,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. LRI Investments LLC acquired a new stake in Newmont during the 1st quarter worth $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Newmont during the second quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont in the 2nd quarter valued at about $27,000. Hoese & Co LLP purchased a new position in Newmont during the 3rd quarter worth approximately $27,000. Finally, Heritage Wealth Advisors increased its position in Newmont by 1,310.4% during the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value 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 $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 sale, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NEM shares. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Jefferies Financial Group raised their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $59.00 to $55.00 in a report on Friday. Finally, BMO Capital Markets upped their price objective on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $54.85.

Newmont Trading Down 1.7 %

Shares of NEM opened at $48.42 on Monday. The firm’s 50-day moving average is $53.39 and its two-hundred day moving average is $46.93. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $55.84 billion, a P/E ratio of -18.13, a PEG ratio of 0.49 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings data 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 firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. On average, research analysts predict that Newmont Co. will post 3.07 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. Newmont’s payout ratio is -37.45%.

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.