IHT Wealth Management LLC Sells 2,066 Shares of Newmont Co. (NYSE:NEM)

IHT Wealth Management LLC cut its stake in Newmont Co. (NYSE:NEM) by 10.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,420 shares of the basic materials company’s stock after selling 2,066 shares during the quarter. IHT Wealth Management LLC’s holdings in Newmont were worth $935,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Advisors LLC increased its stake in shares of Newmont by 30.3% in the 1st quarter. Cetera Advisors LLC now owns 21,464 shares of the basic materials company’s stock worth $769,000 after acquiring an additional 4,987 shares in the last quarter. CWM LLC grew its position in Newmont by 61.2% during the 2nd quarter. CWM LLC now owns 17,181 shares of the basic materials company’s stock valued at $719,000 after purchasing an additional 6,521 shares during the last quarter. Simplicity Wealth LLC boosted its holdings in shares of Newmont by 81.7% during the 2nd quarter. Simplicity Wealth LLC now owns 17,460 shares of the basic materials company’s stock valued at $731,000 after acquiring an additional 7,849 shares during the last quarter. CX Institutional purchased a new stake in shares of Newmont during the 2nd quarter valued at about $215,000. Finally, QRG Capital Management Inc. boosted its holdings in shares of Newmont by 24.4% during the 2nd quarter. QRG Capital Management Inc. now owns 20,299 shares of the basic materials company’s stock valued at $850,000 after acquiring an additional 3,977 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NEM. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Jefferies Financial Group increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 29th. Raymond James lowered their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Finally, Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.31.

Newmont Trading Up 0.0 %

Newmont stock opened at $41.09 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market cap of $46.78 billion, a PE ratio of -27.03, a P/E/G ratio of 0.36 and a beta of 0.49. The stock’s 50 day simple moving average is $47.97 and its two-hundred day simple moving average is $47.37. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period in the prior year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. Analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the sale, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. This trade represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

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.