Nations Financial Group Inc. IA ADV Sells 23,050 Shares of Newmont Corporation $NEM

Nations Financial Group Inc. IA ADV cut its holdings in shares of Newmont Corporation (NYSE:NEM) by 66.7% in the 1st quarter, HoldingsChannel reports. The firm owned 11,527 shares of the basic materials company’s stock after selling 23,050 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Newmont were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in NEM. GoalVest Advisory LLC bought a new position in Newmont during the fourth quarter valued at about $25,000. Swiss RE Ltd. bought a new stake in Newmont in the fourth quarter worth about $26,000. Cornerstone Planning Group LLC raised its position in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 206 shares during the period. Lodestone Wealth Management LLC purchased a new position in Newmont in the fourth quarter valued at about $28,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Newmont during the 4th quarter valued at approximately $30,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

NYSE NEM opened at $101.78 on Tuesday. The firm has a market cap of $108.65 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $109.68 and its 200-day moving average is $110.77. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period last year, the firm earned $1.25 EPS. Newmont’s revenue for the quarter was up 45.8% on a year-over-year basis. Sell-side analysts predict that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. The trade was a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 28,556 shares of company stock valued at $3,120,276 in the last ninety days. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NEM shares. TD Cowen restated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Scotiabank reduced their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. Canadian Imperial Bank of Commerce set a $175.00 target price on Newmont and gave the stock an “outperform” rating in a research report on Monday, June 1st. Argus boosted their target price on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.98.

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.