Nations Financial Group Inc. IA ADV Cuts Stock Position in Newmont Corporation $NEM

Nations Financial Group Inc. IA ADV trimmed its holdings in shares of Newmont Corporation (NYSE:NEM) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,579 shares of the basic materials company’s stock after selling 5,273 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Newmont were worth $3,084,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its stake in Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares during the last quarter. Summit Financial Wealth Advisors LLC lifted its position in shares of Newmont by 2.3% in the third quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock valued at $566,000 after acquiring an additional 145 shares in the last quarter. Welch Group LLC increased its position in Newmont by 1.3% during the 3rd quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock worth $1,027,000 after purchasing an additional 153 shares in the last quarter. Hemington Wealth Management raised its stake in Newmont by 17.6% in the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 170 shares during the last quarter. Finally, IVC Wealth Advisors LLC lifted its holdings in Newmont by 1.3% in the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock valued at $813,000 after purchasing an additional 173 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NEM. Royal Bank Of Canada boosted their price objective on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Newmont in a research report on Sunday, December 7th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $71.50 to $114.00 in a research note on Thursday, October 23rd. Finally, TD Securities lifted their price target on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont has an average rating of “Buy” and a consensus price target of $99.35.

Newmont Stock Down 0.0%

NEM opened at $114.17 on Friday. Newmont Corporation has a 1 year low of $40.85 and a 1 year high of $115.70. The firm has a 50 day moving average price of $97.58 and a 200 day moving average price of $82.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The company has a market cap of $124.59 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 0.85 and a beta of 0.41.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the company posted $0.81 earnings per share. Newmont’s revenue was up 20.0% compared to the same quarter last year. Sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio is currently 15.53%.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the transaction, the director owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,160 shares of company stock worth $767,206 over the last three months. 0.05% of the stock is currently owned by corporate insiders.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.