Integrated Wealth Concepts LLC Has $935,000 Holdings in Newmont Co. (NYSE:NEM)

Integrated Wealth Concepts LLC trimmed its position in shares of Newmont Co. (NYSE:NEM) by 11.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,501 shares of the basic materials company’s stock after selling 2,374 shares during the period. Integrated Wealth Concepts LLC’s holdings in Newmont were worth $935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its stake in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the period. Hoese & Co LLP bought a new position in Newmont during the third quarter worth $27,000. Prospera Private Wealth LLC acquired a new position in shares of Newmont in the third quarter valued at $28,000. Highline Wealth Partners LLC bought a new position in shares of Newmont in the third quarter valued at about $32,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Newmont during the 2nd quarter worth about $27,000. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on NEM. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Jefferies Financial Group lifted their price target on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, August 29th. Finally, Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $54.31.

Insiders Place Their Bets

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

Newmont Trading Up 1.5 %

Shares of NEM stock opened at $41.73 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a market cap of $47.51 billion, a PE ratio of -27.45, a P/E/G ratio of 0.35 and a beta of 0.49. The stock’s fifty day moving average price is $47.48 and its two-hundred day moving average price is $47.41.

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

Newmont Announces Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.40%. Newmont’s dividend payout ratio is currently -65.79%.

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.