Nations Financial Group Inc. IA ADV Reduces Holdings in Newmont Corporation $NEM

Nations Financial Group Inc. IA ADV lowered its position in Newmont Corporation (NYSE:NEM) by 12.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 36,579 shares of the basic materials company’s stock after selling 5,273 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Newmont were worth $3,084,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Newmont in the second quarter worth about $919,170,000. Invesco Ltd. increased its holdings in Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after purchasing an additional 4,839,447 shares during the last quarter. Legal & General Group Plc raised its position in shares of Newmont by 6.3% in the 2nd quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock valued at $433,236,000 after purchasing an additional 438,748 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Newmont by 1,502.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after buying an additional 4,399,778 shares during the last quarter. Finally, Boston Partners grew its position in shares of Newmont by 4,090.7% during the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after buying an additional 4,532,263 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,160 shares of company stock valued at $767,206 over the last three months. Corporate insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. The Goldman Sachs Group upped their price objective on Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research note on Monday, January 12th. BNP Paribas downgraded Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target for the company. in a report on Friday, December 5th. Macquarie raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Finally, Royal Bank Of Canada raised their price objective on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of “Buy” and an average target price of $99.35.

Newmont Stock Performance

NEM stock opened at $114.17 on Friday. The stock’s fifty day moving average is $97.58 and its two-hundred day moving average is $82.68. The stock has a market capitalization of $124.59 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 0.85 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a 1 year low of $40.85 and a 1 year high of $115.70.

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, topping analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. On average, research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Newmont’s payout ratio is currently 15.53%.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.