B. Riley Wealth Advisors Inc. Sells 34,335 Shares of Newmont Co. (NYSE:NEM)

B. Riley Wealth Advisors Inc. decreased its stake in shares of Newmont Co. (NYSE:NEM) by 34.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,549 shares of the basic materials company’s stock after selling 34,335 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Newmont were worth $3,555,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Tidal Investments LLC boosted its holdings in shares of Newmont by 5.4% during the 3rd quarter. Tidal Investments LLC now owns 163,695 shares of the basic materials company’s stock valued at $8,749,000 after purchasing an additional 8,412 shares during the last quarter. Cim Investment Management Inc. purchased a new stake in Newmont in the third quarter worth $1,033,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Newmont during the third quarter worth $422,000. Sanctuary Advisors LLC boosted its stake in shares of Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after purchasing an additional 18,722 shares during the period. Finally, Virtu Financial LLC grew its holdings in shares of Newmont by 183.2% in the third quarter. Virtu Financial LLC now owns 23,136 shares of the basic materials company’s stock worth $1,237,000 after purchasing an additional 14,967 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Down 3.2 %

NYSE:NEM opened at $40.22 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a market capitalization of $45.79 billion, a P/E ratio of -26.46, a P/E/G ratio of 0.36 and a beta of 0.49. The company’s 50-day simple moving average is $46.50 and its 200-day simple moving average is $47.35. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

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

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NEM shares. Jefferies Financial Group boosted their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Raymond James lowered their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Finally, Royal Bank of Canada cut their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’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 transaction of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was 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. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

About Newmont

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.