D.A. Davidson & CO. Has $3.17 Million Holdings in Newmont Corporation $NEM

D.A. Davidson & CO. cut its stake in Newmont Corporation (NYSE:NEM) by 63.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,626 shares of the basic materials company’s stock after selling 63,978 shares during the period. D.A. Davidson & CO.’s holdings in Newmont were worth $3,172,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its stake in shares of Newmont by 53.5% in the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after buying an additional 139 shares during the period. Concord Wealth Partners raised its holdings in Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares in the last quarter. Evermay Wealth Management LLC lifted its position in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares during the period. Salomon & Ludwin LLC acquired a new stake in shares of Newmont during the 3rd quarter worth approximately $44,000. Finally, Capital A Wealth Management LLC grew its holdings in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 478 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the company’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 in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 9,160 shares of company stock worth $767,206. Company insiders own 0.05% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $106.90 on Friday. The stock has a 50-day simple moving average of $93.78 and a 200 day simple moving average of $80.23. The stock has a market capitalization of $116.66 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 0.84 and a beta of 0.41. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. Newmont Corporation has a 12-month low of $38.53 and a 12-month high of $109.30.

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 during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the company posted $0.81 EPS. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio is currently 15.53%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NEM shares. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Argus raised their price objective on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. BNP Paribas lowered shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price on the stock. in a research report on Friday, December 5th. The Goldman Sachs Group set a $104.30 price target on shares of Newmont and gave the stock a “buy” rating in a research note on Sunday, October 12th. Finally, Macquarie raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $97.08.

Newmont Company 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.