BBR Partners LLC Decreases Stock Position in Newmont Co. (NYSE:NEM)

BBR Partners LLC cut its stake in shares of Newmont Co. (NYSE:NEM) by 9.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,890 shares of the basic materials company’s stock after selling 499 shares during the quarter. BBR Partners LLC’s holdings in Newmont were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Avior Wealth Management LLC boosted its stake in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the period. Hoese & Co LLP purchased a new stake in Newmont during the 3rd quarter valued at $27,000. Prospera Private Wealth LLC bought a new stake in Newmont in the 3rd quarter worth $28,000. Highline Wealth Partners LLC purchased a new position in shares of Newmont in the third quarter valued at about $32,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Newmont during the second quarter valued at about $27,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Up 0.1 %

Shares of Newmont stock opened at $42.04 on Thursday. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The company’s fifty day simple moving average is $49.57 and its 200-day simple moving average is $47.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market capitalization of $47.86 billion, a PE ratio of -27.66, a P/E/G ratio of 0.37 and a beta of 0.51.

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

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NEM shares. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and cut their target price for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada dropped their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $54.31.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. The trade was a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 271,469 shares of the company’s stock, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is currently owned by 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.