HighTower Advisors LLC Sells 10,344 Shares of Newmont Corporation (NYSE:NEM)

HighTower Advisors LLC reduced its stake in Newmont Corporation (NYSE:NEM - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 659,234 shares of the basic materials company's stock after selling 10,344 shares during the period. HighTower Advisors LLC owned 0.06% of Newmont worth $31,828,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Hemington Wealth Management raised its position in shares of Newmont by 25.2% during the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock valued at $46,000 after purchasing an additional 194 shares during the period. Ipswich Investment Management Co. Inc. increased its holdings in shares of Newmont by 1.4% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock worth $689,000 after buying an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. increased its holdings in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after buying an additional 201 shares during the last quarter. Rothschild Investment LLC increased its holdings in shares of Newmont by 8.5% in the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after buying an additional 219 shares during the last quarter. Finally, Twin Capital Management Inc. increased its holdings in shares of Newmont by 0.7% in the 1st quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock worth $1,873,000 after buying an additional 254 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on NEM shares. Royal Bank Of Canada boosted their price objective on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Scotiabank increased their target price on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a research note on Friday, July 25th. Finally, Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Newmont Stock Up 1.2%

NYSE:NEM traded up $0.84 on Friday, hitting $69.32. 7,907,348 shares of the company's stock traded hands, compared to its average volume of 10,953,594. The company has a market cap of $76.14 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $70.29. The firm has a 50-day moving average price of $61.00 and a 200-day moving average price of $53.19.

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

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio is presently 17.95%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $132,221.82. Following the sale, the director owned 41,026 shares of the company's stock, valued at $2,611,715.16. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,246 shares of company stock worth $1,373,251. Insiders own 0.05% of the company's stock.

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.