Newmont Corporation $NEM Shares Sold by Secured Retirement Advisors LLC

Key Points

• Secured Retirement Advisors LLC reduced its stake in Newmont Corporation by 17.1% in the 2nd quarter, holding 22,521 shares valued at approximately $1.31 million after selling 4,658 shares.
• Analysts have mixed ratings on Newmont, with three maintaining a strong-buy rating, while the average target price is set at $74.18.
• Newmont recently declared a quarterly dividend of $0.25 per share, resulting in a 1.1% dividend yield for stockholders of record.

Secured Retirement Advisors LLC lessened its stake in Newmont Corporation (NYSE:NEM - Free Report) by 17.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,521 shares of the basic materials company's stock after selling 4,658 shares during the period. Secured Retirement Advisors LLC's holdings in Newmont were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new stake in shares of Newmont in the first quarter valued at approximately $26,000. Colonial Trust Advisors boosted its stake in Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after purchasing an additional 429 shares during the period. Financial Management Professionals Inc. boosted its stake in shares of Newmont by 274.1% during the second quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company's stock worth $35,000 after buying an additional 444 shares during the period. ST Germain D J Co. Inc. boosted its stake in shares of Newmont by 92.3% during the second quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company's stock worth $36,000 after buying an additional 300 shares during the period. Finally, Private Trust Co. NA boosted its stake in shares of Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after buying an additional 347 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock valued at $1,132,065 in the last 90 days. 0.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on NEM shares. Stifel Canada raised Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. BNP Paribas cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. UBS Group raised their target price on shares of Newmont from $70.00 to $92.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Finally, The Goldman Sachs Group raised their target price on shares of Newmont from $63.10 to $77.30 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $74.18.

Newmont Stock Down 1.7%

Shares of NYSE NEM opened at $87.03 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $89.37. The firm has a 50-day moving average price of $75.33 and a 200 day moving average price of $61.73. The stock has a market capitalization of $95.59 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 0.99 and a beta of 0.34.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the firm earned $0.72 EPS. The company's revenue for the quarter was up 20.8% on a year-over-year basis. Equities research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont's payout ratio is 17.95%.

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.

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