IFP Advisors Inc Purchases 4,649 Shares of Newmont Co. (NYSE:NEM)

IFP Advisors Inc grew its position in Newmont Co. (NYSE:NEM) by 8.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 57,505 shares of the basic materials company’s stock after acquiring an additional 4,649 shares during the period. IFP Advisors Inc’s holdings in Newmont were worth $2,142,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NEM. Avior Wealth Management LLC increased its holdings in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new stake in Newmont in the third quarter valued at $28,000. Highline Wealth Partners LLC acquired a new stake in Newmont in the third quarter valued at $32,000. McIlrath & Eck LLC grew its holdings in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 361 shares during the period. Finally, HHM Wealth Advisors LLC grew its holdings in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $42.90 on Wednesday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The stock has a market cap of $48.83 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm’s 50-day simple moving average is $41.70 and its 200 day simple moving average is $46.39.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. As a group, research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.33%. Newmont’s payout ratio is 34.13%.

Analyst Ratings Changes

A number of analysts have weighed in on NEM shares. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. CLSA started coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. Royal Bank of Canada increased their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Finally, Bernstein Bank increased their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.37.

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.