Insight 2811 Inc. Sells 400 Shares of Newmont Co. (NYSE:NEM)

Insight 2811 Inc. lowered its stake in shares of Newmont Co. (NYSE:NEM) by 6.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,954 shares of the basic materials company’s stock after selling 400 shares during the period. Insight 2811 Inc.’s holdings in Newmont were worth $222,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Avior Wealth Management LLC boosted 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 worth $27,000 after purchasing an additional 326 shares during the last quarter. HHM Wealth Advisors LLC boosted its stake in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after buying an additional 350 shares during the last quarter. Promus Capital LLC bought a new stake in shares of Newmont in the fourth quarter worth $38,000. McIlrath & Eck LLC increased its position in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in Newmont in the fourth quarter valued at about $43,000. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Natascha Viljoen sold 9,000 shares of the 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 completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 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 value of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Down 1.2 %

Shares of NEM opened at $46.81 on Tuesday. The business’s 50 day moving average is $44.25 and its 200 day moving average is $45.50. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $33.86 and a 12-month high of $58.72. The company has a market capitalization of $52.76 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) 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 firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NEM shares. Royal Bank of Canada boosted their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. CLSA assumed coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Raymond James decreased their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Scotiabank cut their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Finally, TD Securities reduced their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.16.

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.