Newmont Co. (NYSE:NEM) Shares Sold by TAP Consulting LLC

TAP Consulting LLC cut its holdings in shares of Newmont Co. (NYSE:NEM) by 27.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,501 shares of the basic materials company’s stock after selling 2,881 shares during the period. TAP Consulting LLC’s holdings in Newmont were worth $279,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Avior Wealth Management LLC increased its position in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Newmont in the 3rd quarter valued at $28,000. HHM Wealth Advisors LLC increased its holdings in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Promus Capital LLC acquired a new position in Newmont during the fourth quarter worth $38,000. Finally, McIlrath & Eck LLC lifted its holdings in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the sale, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. The trade was a 4.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares of the company’s stock, valued at $3,782,051.46. This trade represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock worth $1,388,758 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

NEM has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Raymond James decreased their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Scotiabank lowered their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Finally, StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Newmont Stock Performance

Shares of Newmont stock opened at $48.00 on Thursday. The business’s fifty day simple moving average is $43.76 and its 200-day simple moving average is $45.66. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a market cap of $54.09 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52 week low of $33.29 and a 52 week high of $58.72.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Equities analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Tuesday, March 4th. Newmont’s payout ratio is 34.13%.

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.