Realta Investment Advisors Lowers Stake in Newmont Corporation $NEM

Realta Investment Advisors reduced its holdings in shares of Newmont Corporation (NYSE:NEM) by 13.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,047 shares of the basic materials company’s stock after selling 2,000 shares during the period. Realta Investment Advisors’ holdings in Newmont were worth $760,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of NEM. SOA Wealth Advisors LLC. grew its position in Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 201 shares during the last quarter. Cloud Capital Management LLC purchased a new position in Newmont during the 1st quarter worth $26,000. Colonial Trust Advisors grew its position in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares during the last quarter. Private Trust Co. NA grew its position in Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 347 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in Newmont during the 1st quarter worth $32,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Up 0.5%

Shares of NYSE NEM opened at $86.86 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $87.93. The firm has a 50-day moving average price of $74.37 and a 200 day moving average price of $61.17. The stock has a market capitalization of $95.41 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the business earned $0.72 earnings per share. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. Equities research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont’s dividend payout ratio (DPR) is 17.95%.

Analysts Set New Price Targets

Several research analysts have issued reports on NEM shares. Stifel Nicolaus began coverage on shares of Newmont in a research report on Wednesday, July 9th. They set a “buy” rating and a $73.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of Newmont from $63.10 to $77.30 and gave the company a “neutral” rating in a report on Thursday, September 11th. Raymond James Financial lifted their target price on shares of Newmont from $77.00 to $84.00 and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Stifel Canada raised shares of Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Saturday, September 27th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Insider Activity at Newmont

In related news, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the transaction, the director owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock worth $1,132,065 over the last 90 days. Company insiders own 0.05% of the company’s stock.

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.