Sheaff Brock Investment Advisors LLC Reduces Holdings in Newmont Co. (NYSE:NEM)

Sheaff Brock Investment Advisors LLC trimmed its stake in Newmont Co. (NYSE:NEMGet Rating) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,831 shares of the basic materials company’s stock after selling 432 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Newmont were worth $225,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC grew its position in shares of Newmont by 229.4% in the 1st quarter. Cerity Partners LLC now owns 16,087 shares of the basic materials company’s stock valued at $1,028,000 after buying an additional 11,204 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Newmont by 13.4% in the 1st quarter. Quadrant Capital Group LLC now owns 4,540 shares of the basic materials company’s stock valued at $361,000 after buying an additional 536 shares during the last quarter. Vident Investment Advisory LLC boosted its stake in Newmont by 11.9% during the 4th quarter. Vident Investment Advisory LLC now owns 66,689 shares of the basic materials company’s stock worth $4,136,000 after purchasing an additional 7,073 shares during the period. Comerica Bank boosted its stake in Newmont by 1.7% during the 1st quarter. Comerica Bank now owns 132,896 shares of the basic materials company’s stock worth $10,976,000 after purchasing an additional 2,208 shares during the period. Finally, AlphaCrest Capital Management LLC boosted its stake in Newmont by 353.3% during the 4th quarter. AlphaCrest Capital Management LLC now owns 18,204 shares of the basic materials company’s stock worth $1,129,000 after purchasing an additional 14,188 shares during the period. 78.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent research reports. Fundamental Research reiterated a “buy” rating and set a $79.52 price target on shares of Newmont in a research note on Tuesday, May 10th. Barclays decreased their price target on shares of Newmont from $68.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 19th. Canaccord Genuity Group upgraded shares of Newmont from a “hold” rating to a “buy” rating and decreased their price target for the stock from $66.00 to $60.00 in a research note on Wednesday, July 27th. National Bank Financial upgraded shares of Newmont from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 27th. Finally, Credit Suisse Group cut shares of Newmont from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 19th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Newmont has an average rating of “Hold” and a consensus target price of $70.37.

Insider Buying and Selling at Newmont

In other Newmont news, COO Robert D. Atkinson sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $67.64, for a total transaction of $202,920.00. Following the completion of the transaction, the chief operating officer now directly owns 67,617 shares in the company, valued at approximately $4,573,613.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $67.64, for a total transaction of $744,040.00. Following the completion of the sale, the chief executive officer now directly owns 276,949 shares in the company, valued at $18,732,830.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $67.64, for a total transaction of $202,920.00. Following the sale, the chief operating officer now owns 67,617 shares of the company’s stock, valued at $4,573,613.88. The disclosure for this sale can be found here. In the last three months, insiders sold 56,000 shares of company stock worth $3,295,400. 0.11% of the stock is owned by corporate insiders.

Newmont Stock Performance

Shares of NEM opened at $44.77 on Friday. The company has a 50-day simple moving average of $58.51 and a 200-day simple moving average of $66.91. The company has a quick ratio of 2.44, a current ratio of 2.82 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $35.53 billion, a PE ratio of 45.22 and a beta of 0.26. Newmont Co. has a 52-week low of $43.90 and a 52-week high of $86.37.

Newmont (NYSE:NEMGet Rating) last posted its earnings results on Monday, July 25th. The basic materials company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.24). Newmont had a net margin of 6.40% and a return on equity of 9.13%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the business posted $0.83 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. Equities research analysts predict that Newmont Co. will post 2.61 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.20 annualized dividend and a yield of 4.91%. Newmont’s dividend payout ratio (DPR) is currently 222.22%.

About Newmont

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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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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