Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 300 Shares of Newmont Corporation $NEM

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its holdings in Newmont Corporation (NYSE:NEM) by 21.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,105 shares of the basic materials company’s stock after selling 300 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Newmont were worth $64,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Cloud Capital Management LLC bought a new position in Newmont during the first quarter valued at about $26,000. Colonial Trust Advisors increased 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 valued at $27,000 after acquiring an additional 429 shares during the period. Concord Wealth Partners increased 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 valued at $27,000 after acquiring an additional 385 shares during the period. Evermay Wealth Management LLC increased 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 valued at $29,000 after acquiring an additional 400 shares during the period. Finally, Private Trust Co. NA increased 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 valued at $30,000 after acquiring an additional 347 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Bank of America boosted their price target on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. The Goldman Sachs Group set a $104.30 price target on Newmont and gave the company a “buy” rating in a research note on Sunday, October 12th. BNP Paribas lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, TD Securities upped their price objective on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.39.

Newmont Trading Up 2.2%

NEM stock opened at $88.93 on Friday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The firm has a market cap 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 business’s 50 day moving average is $80.89 and its 200-day moving average is $65.15. 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 (NYSE:NEM) last released 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 return on equity of 17.86% and a net margin of 30.50%.The company 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 company posted $0.81 EPS. The company’s revenue was up 20.0% compared to the same quarter last year. Equities analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Insider Transactions at Newmont

In other news, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the transaction, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president directly owned 58,736 shares in the company, valued at $3,739,133.76. The trade was a 4.86% 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 valued at $1,132,065 in the last three months. 0.05% of the stock is owned by corporate insiders.

Newmont 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.