Retirement Planning Co of New England Inc. Cuts Stake in Newmont Co. (NYSE:NEM)

Retirement Planning Co of New England Inc. trimmed its stake in Newmont Co. (NYSE:NEM) by 16.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,360 shares of the basic materials company’s stock after selling 2,266 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Newmont were worth $476,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in shares of Newmont during the 1st quarter valued at $25,000. Strategic Financial Concepts LLC purchased a new stake in Newmont during the second quarter valued at about $25,000. Manchester Capital Management LLC increased its stake in Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 397 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Newmont in the 2nd quarter worth about $27,000. Finally, Heritage Wealth Advisors lifted its stake in shares of Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NEM shares. JPMorgan Chase & Co. lowered shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Bank of America upped their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. BNP Paribas raised Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Finally, UBS Group raised Newmont from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.00 to $50.00 in a research report on Monday, June 17th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Newmont Stock Up 1.6 %

NEM stock opened at $53.71 on Friday. 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 50 day simple moving average of $49.32 and a 200-day simple moving average of $42.79. The company has a market capitalization of $61.63 billion, a P/E ratio of -20.12, a PEG ratio of 0.37 and a beta of 0.49. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $54.25.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm’s revenue for the quarter was up 64.1% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. On average, equities research analysts predict that Newmont Co. will post 2.82 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio is presently -37.45%.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the sale, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the completion of the sale, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,000 shares of company stock worth $2,744,700. 0.06% of the stock is currently 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.