Ashton Thomas Private Wealth LLC Has $341,000 Stock Position in Newmont Co. (NYSE:NEM)

Ashton Thomas Private Wealth LLC lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,376 shares of the basic materials company’s stock after selling 259 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Newmont were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NEM. Waverton Investment Management Ltd lifted its position in shares of Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after buying an additional 65,075 shares during the last quarter. Red Cedar Investment Management LLC acquired a new stake in Newmont in the 3rd quarter worth approximately $1,263,000. Bessemer Group Inc. lifted its holdings in Newmont by 7.5% in the 1st quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 529 shares during the last quarter. Herr Investment Group LLC bought a new stake in Newmont during the second quarter worth approximately $419,000. Finally, Truist Financial Corp grew its holdings in Newmont by 8.1% during the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock valued at $6,295,000 after purchasing an additional 11,276 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Down 1.4 %

Shares of Newmont stock opened at $40.67 on Friday. The company’s fifty day moving average price is $51.52 and its two-hundred day moving average price is $47.41. The firm has a market capitalization of $46.30 billion, a PE ratio of -26.76, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business’s revenue was up 84.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 EPS. On average, analysts expect that Newmont Co. will post 3.15 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Thursday, August 29th. Jefferies Financial Group boosted their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.14.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,000 shares of company stock valued at $2,444,440 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

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.