Inspire Advisors LLC Has $1.17 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Inspire Advisors LLC trimmed its stake in shares of Newmont Co. (NYSE:NEM) by 33.8% during the third quarter, Holdings Channel reports. The firm owned 21,788 shares of the basic materials company’s stock after selling 11,146 shares during the period. Inspire Advisors LLC’s holdings in Newmont were worth $1,165,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NEM. Hoese & Co LLP bought a new stake in Newmont during the third quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in shares of Newmont during the second quarter worth $27,000. LRI Investments LLC bought a new position in Newmont in the first quarter valued at about $25,000. Heritage Wealth Advisors lifted its position in Newmont by 1,310.4% during the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares during the period. Finally, Crewe Advisors LLC bought a new position in shares of Newmont in the 1st quarter valued at about $35,000. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on NEM shares. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and boosted their price objective for the company from $46.00 to $61.00 in a research report on Wednesday, July 10th. Bank of America increased their target price on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

Newmont Trading Up 1.9 %

Shares of NYSE NEM traded up $1.07 during trading on Friday, reaching $57.57. The company had a trading volume of 3,024,521 shares, compared to its average volume of 10,139,326. The stock has a market cap of $66.39 billion, a P/E ratio of -21.16, a PEG ratio of 0.43 and a beta of 0.50. The company’s fifty day moving average price is $52.69 and its 200-day moving average price is $46.11. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $57.70.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The firm’s quarterly revenue was up 64.1% on a year-over-year basis. As a group, research analysts expect that Newmont Co. will post 3.1 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is owned by company insiders.

Newmont 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.