B. Riley Wealth Advisors Inc. Invests $548,000 in Newmont Corporation $NEM

B. Riley Wealth Advisors Inc. bought a new stake in Newmont Corporation (NYSE:NEM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,406 shares of the basic materials company’s stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of NEM. Norges Bank acquired a new position in shares of Newmont in the second quarter valued at approximately $919,170,000. Invesco Ltd. lifted its position in Newmont by 45.0% during the second quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after purchasing an additional 4,839,447 shares during the period. Northern Trust Corp grew its stake in Newmont by 1.5% during the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock worth $624,458,000 after buying an additional 191,940 shares in the last quarter. Amundi raised its position in shares of Newmont by 2.8% in the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after buying an additional 343,535 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Newmont by 6.3% during the 2nd quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock worth $433,236,000 after acquiring an additional 438,748 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NEM stock opened at $98.05 on Wednesday. The firm has a 50 day moving average of $88.30 and a 200-day moving average of $74.89. The firm has a market capitalization of $107.00 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $102.13.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the company posted $0.81 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s payout ratio is presently 15.53%.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 11,240 shares of company stock worth $943,985. Insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on NEM shares. Royal Bank Of Canada boosted their target price on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. CIBC set a $112.00 target price on Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. Macquarie upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, National Bankshares upped their price objective on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Newmont presently has an average rating of “Buy” and an average price target of $96.37.

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.