Atria Wealth Solutions Inc. Sells 14,179 Shares of Newmont Corporation $NEM

Atria Wealth Solutions Inc. lowered its stake in Newmont Corporation (NYSE:NEM) by 58.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,007 shares of the basic materials company’s stock after selling 14,179 shares during the period. Atria Wealth Solutions Inc.’s holdings in Newmont were worth $585,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Newmont by 59.6% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after purchasing an additional 5,848 shares during the last quarter. Generate Investment Management Ltd raised its holdings in shares of Newmont by 25.9% in the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after purchasing an additional 77,865 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Newmont by 13.2% in the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock valued at $569,000 after purchasing an additional 1,379 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Newmont in the first quarter valued at approximately $423,000. Finally, Cypress Capital Group raised its holdings in shares of Newmont by 6.5% in the second quarter. Cypress Capital Group now owns 48,549 shares of the basic materials company’s stock valued at $2,828,000 after purchasing an additional 2,959 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NEM opened at $90.76 on Monday. The company has a market cap of $99.69 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 0.63 and a beta of 0.34. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The company’s fifty day simple moving average is $79.24 and its 200 day simple moving average is $64.19. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM) last released 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 for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 20.8% on a year-over-year basis. On average, research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, September 4th. Newmont’s payout ratio is currently 17.95%.

Insider Buying and Selling at Newmont

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

Analyst Ratings Changes

A number of research firms have recently issued reports on NEM. Weiss Ratings downgraded shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the company a “buy” rating in a report on Sunday, October 12th. Citigroup boosted their target price on shares of Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group boosted their target price on shares of Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a report on Thursday. Finally, BNP Paribas Exane boosted their target price on shares of Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.59.

Newmont Company 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.