B. Riley Wealth Advisors Inc. Reduces Position in Newmont Co. (NYSE:NEM)

B. Riley Wealth Advisors Inc. reduced its stake in Newmont Co. (NYSE:NEM - Free Report) by 33.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,964 shares of the basic materials company's stock after selling 22,585 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Newmont were worth $1,636,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NEM. Van ECK Associates Corp raised its stake in Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after purchasing an additional 797,445 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after buying an additional 1,213,397 shares during the last quarter. Norges Bank purchased a new stake in shares of Newmont during the 4th quarter valued at about $626,074,000. Northern Trust Corp lifted its holdings in shares of Newmont by 11.5% in the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after acquiring an additional 1,309,177 shares during the last quarter. Finally, Amundi grew its position in Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after acquiring an additional 1,507,708 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Down 0.6%

Shares of NEM stock traded down $0.31 during mid-day trading on Thursday, hitting $52.54. The stock had a trading volume of 9,172,192 shares, compared to its average volume of 10,121,055. Newmont Co. has a 12-month low of $36.86 and a 12-month high of $58.72. 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 firm's 50-day moving average is $51.29 and its two-hundred day moving average is $45.38. The firm has a market capitalization of $58.47 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. Newmont's payout ratio is presently 22.42%.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the transaction, the director now owns 47,257 shares in the company, valued at $2,432,790.36. The trade was a 4.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares of the company's stock, valued at $3,782,051.46. The trade was a 3.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,154 shares of company stock worth $328,840. Corporate insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NEM shares. Argus set a $63.00 price objective on Newmont in a research report on Friday, April 25th. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and boosted their target price for the company from $50.00 to $60.00 in a research report on Friday, April 11th. Scotiabank restated a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. National Bank Financial raised shares of Newmont to a "hold" rating in a research note on Friday, March 21st. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $56.52.

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.