Aire Advisors LLC Sells 266 Shares of Newmont Corporation $NEM

Aire Advisors LLC lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,000 shares of the basic materials company’s stock after selling 266 shares during the quarter. Aire Advisors LLC’s holdings in Newmont were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC boosted its position in Newmont by 59.6% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after purchasing an additional 5,848 shares in the last quarter. Generate Investment Management Ltd boosted its position in Newmont by 25.9% during the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after purchasing an additional 77,865 shares in the last quarter. Bessemer Group Inc. boosted its position in Newmont by 13.2% during the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock valued at $569,000 after purchasing an additional 1,379 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Newmont during the first quarter valued at about $423,000. Finally, Spire Wealth Management boosted its position in Newmont by 125.0% during the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 1,309 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director owned 36,869 shares of the company’s stock, valued at $3,133,496.31. The trade was a 5.34% 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, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This trade represents a 17.70% 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 over the last quarter. 0.05% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on NEM. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Weiss Ratings downgraded Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. UBS Group raised their price target on Newmont from $70.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Finally, Stifel Nicolaus assumed coverage on Newmont in a report on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price target for the company. Four equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $84.66.

Newmont Trading Up 3.3%

Newmont stock opened at $93.49 on Thursday. 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 $93.93. The company has a market capitalization of $102.70 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 0.99 and a beta of 0.34. The stock has a 50-day moving average price of $78.22 and a 200 day moving average price of $63.33.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.70 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue was up 20.8% compared to the same quarter last year. Sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. 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.