Signature Wealth Management Partners LLC Sells 675 Shares of Newmont Co. (NYSE:NEM)

Signature Wealth Management Partners LLC lowered its stake in shares of Newmont Co. (NYSE:NEM) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,887 shares of the basic materials company’s stock after selling 675 shares during the quarter. Signature Wealth Management Partners LLC’s holdings in Newmont were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its position in shares of Newmont by 13.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 139,631 shares of the basic materials company’s stock worth $5,004,000 after buying an additional 16,902 shares during the last quarter. IVC Wealth Advisors LLC grew its holdings in Newmont by 14.5% in the first quarter. IVC Wealth Advisors LLC now owns 16,700 shares of the basic materials company’s stock worth $599,000 after purchasing an additional 2,113 shares during the last quarter. JTC Employer Solutions Trustee Ltd increased its position in shares of Newmont by 362.7% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 9,253 shares of the basic materials company’s stock worth $326,000 after purchasing an additional 7,253 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Newmont during the 1st quarter valued at $1,431,000. Finally, Financial Sense Advisors Inc. boosted its position in shares of Newmont by 219.7% in the 1st quarter. Financial Sense Advisors Inc. now owns 133,096 shares of the basic materials company’s stock worth $4,770,000 after purchasing an additional 91,462 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 approximately $15,293,378.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is currently owned by insiders.

Newmont Price Performance

NYSE:NEM opened at $48.36 on Tuesday. The stock has a 50 day moving average price of $53.33 and a 200 day moving average price of $46.99. The stock has a market cap of $55.06 billion, a PE ratio of -31.82, a P/E/G ratio of 0.40 and a beta of 0.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Newmont (NYSE:NEM) last posted 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). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period last year, the company earned $0.36 EPS. The business’s quarterly revenue was up 84.7% on a year-over-year basis. Equities research analysts expect that Newmont Co. will post 3.13 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio is presently -65.79%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NEM. BMO Capital Markets increased their price target on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Thursday, August 29th. Jefferies Financial Group lifted their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, UBS Group upped their target price on Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.85.

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.