International Private Wealth Advisors LLC Sells 417 Shares of Newmont Co. (NYSE:NEM)

International Private Wealth Advisors LLC trimmed its holdings in shares of Newmont Co. (NYSE:NEM) by 7.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,987 shares of the basic materials company’s stock after selling 417 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Newmont were worth $267,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Newmont by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after acquiring an additional 16,190,422 shares during the last quarter. Maj Invest Holding A S grew its holdings in Newmont by 296.0% during the second quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock valued at $143,502,000 after purchasing an additional 2,561,823 shares during the last quarter. Capital International Investors bought a new position in shares of Newmont in the first quarter valued at approximately $49,444,000. Van ECK Associates Corp lifted its stake in shares of Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after buying an additional 1,289,084 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Newmont by 262.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after buying an additional 1,096,905 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,000 shares of company stock worth $2,444,440. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NEM. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Royal Bank of Canada cut their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.14.

Newmont Price Performance

NYSE NEM traded down $0.14 on Thursday, reaching $41.09. The company’s stock had a trading volume of 4,800,012 shares, compared to its average volume of 10,485,656. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market cap of $46.78 billion, a PE ratio of -27.12, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. The business has a 50-day moving average price of $51.52 and a 200 day moving average price of $47.41.

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 company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 earnings per share. Sell-side analysts expect that Newmont Co. will post 3.15 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.43%. Newmont’s payout ratio is presently -65.79%.

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.