D.A. Davidson & CO. Sells 7,204 Shares of Newmont Corporation $NEM

D.A. Davidson & CO. lowered its holdings in Newmont Corporation (NYSE:NEM) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,604 shares of the basic materials company’s stock after selling 7,204 shares during the quarter. D.A. Davidson & CO.’s holdings in Newmont were worth $5,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cloud Capital Management LLC bought a new stake in Newmont during the first quarter worth about $26,000. Colonial Trust Advisors grew its stake in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after buying an additional 429 shares during the last quarter. Concord Wealth Partners grew its stake in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares during the last quarter. Evermay Wealth Management LLC grew its stake in Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in 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 last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 2.2%

Shares of NYSE NEM opened at $88.93 on Friday. The company’s 50 day simple moving average is $80.89 and its 200 day simple moving average is $65.15. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58. The firm has a market capitalization of $97.69 billion, a P/E ratio of 15.97, a P/E/G ratio of 0.59 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the business posted $0.81 earnings per share. Newmont’s revenue was up 20.0% compared to the same quarter last year. On average, analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio is currently 17.95%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Royal Bank Of Canada raised shares of Newmont from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $66.00 to $95.00 in a research note on Wednesday, September 10th. CIBC set a $112.00 price objective on shares of Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. UBS Group upped their price objective on shares of Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Bank of America upped their target price on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, National Bankshares reiterated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.39.

Insider Activity at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction on Wednesday, August 6th. The shares were 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 in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on 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 in the company, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock worth $1,132,065 over the last ninety days. Company 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.