Premier Path Wealth Partners LLC Sells 2,060 Shares of Newmont Co. (NYSE:NEM)

Premier Path Wealth Partners LLC lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 25.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,066 shares of the basic materials company’s stock after selling 2,060 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Newmont were worth $226,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Hoese & Co LLP bought a new stake in shares of Newmont during the third quarter valued at approximately $27,000. Avior Wealth Management LLC increased its holdings in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Newmont in the 3rd quarter worth $28,000. Highline Wealth Partners LLC bought a new position in shares of Newmont during the 3rd quarter valued at about $32,000. Finally, McIlrath & Eck LLC grew its position in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NEM. Royal Bank of Canada dropped their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.80.

Newmont Stock Up 0.2 %

Shares of NEM opened at $41.72 on Monday. The firm has a fifty day moving average price of $40.29 and a 200-day moving average price of $46.86. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $47.50 billion, a P/E ratio of -27.45, a P/E/G ratio of 0.31 and a beta of 0.50. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period last year, the firm earned $0.36 earnings per share. Newmont’s quarterly revenue was up 84.7% on a year-over-year basis. Equities research analysts expect that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

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.