Newmont Co. (NYSE:NEM) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its position in Newmont Co. (NYSE:NEMGet Rating) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,005 shares of the basic materials company’s stock after selling 250 shares during the quarter. Park Avenue Securities LLC’s holdings in Newmont were worth $378,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Hoey Investments Inc. acquired a new position in Newmont in the second quarter valued at approximately $30,000. Avion Wealth lifted its stake in shares of Newmont by 4,664.7% in the 3rd quarter. Avion Wealth now owns 810 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 793 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Newmont during the 3rd quarter worth $34,000. Crewe Advisors LLC increased its position in shares of Newmont by 98.0% during the 2nd quarter. Crewe Advisors LLC now owns 584 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 289 shares during the last quarter. Finally, Central Bank & Trust Co. lifted its position in Newmont by 64.3% in the second quarter. Central Bank & Trust Co. now owns 608 shares of the basic materials company’s stock valued at $36,000 after buying an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Newmont Stock Up 1.7 %

Shares of NYSE:NEM opened at $53.34 on Monday. The company has a quick ratio of 2.29, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Newmont Co. has a fifty-two week low of $37.45 and a fifty-two week high of $86.37. The stock has a market cap of $42.34 billion, a price-to-earnings ratio of 42.33 and a beta of 0.27. The firm’s 50 day moving average price is $48.31 and its 200 day moving average price is $46.06.

Newmont (NYSE:NEMGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. Newmont had a net margin of 8.28% and a return on equity of 8.07%. As a group, equities research analysts predict that Newmont Co. will post 1.82 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Stockholders of record on Thursday, December 8th were issued a $0.55 dividend. The ex-dividend date of this dividend was Wednesday, December 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.12%. Newmont’s payout ratio is currently 174.60%.

Insider Transactions at Newmont

In related news, COO Robert D. Atkinson sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total value of $129,060.00. Following the completion of the transaction, the chief operating officer now directly owns 39,947 shares of the company’s stock, valued at $1,718,519.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Mark Casper sold 4,890 shares of Newmont stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $41.98, for a total transaction of $205,282.20. Following the sale, the insider now owns 18,217 shares in the company, valued at $764,749.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $43.02, for a total value of $129,060.00. Following the completion of the sale, the chief operating officer now directly owns 39,947 shares of the company’s stock, valued at $1,718,519.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,890 shares of company stock valued at $2,160,662. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Newmont in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Fundamental Research restated a “buy” rating and set a $52.00 price target (down from $63.91) on shares of Newmont in a research note on Tuesday, November 15th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $56.00 price objective (up from $50.00) on shares of Newmont in a research note on Thursday. Barclays decreased their target price on Newmont from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, November 21st. Finally, TD Securities dropped their target price on Newmont from $49.00 to $47.00 and set a “hold” rating for the company in a research report on Wednesday, November 2nd. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.63.

Newmont Company Profile

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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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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