Comprehensive Money Management Services LLC Sells 935 Shares of Newmont Corporation $NEM

Comprehensive Money Management Services LLC lowered its position in shares of Newmont Corporation (NYSE:NEM) by 4.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 19,017 shares of the basic materials company’s stock after selling 935 shares during the quarter. Comprehensive Money Management Services LLC’s holdings in Newmont were worth $1,108,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NEM. Cloud Capital Management LLC bought a new stake in shares of Newmont in the 1st quarter valued at about $26,000. Colonial Trust Advisors lifted its stake in shares of Newmont by 315.4% in the 1st 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 last quarter. Financial Management Professionals Inc. lifted its stake in shares of Newmont by 274.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 444 shares during the last quarter. ST Germain D J Co. Inc. lifted its stake in shares of Newmont by 92.3% in the 2nd quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. Finally, Private Trust Co. NA lifted its stake in shares of Newmont by 122.6% in the 1st 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 last quarter. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 36,869 shares in the company, valued at approximately $3,133,496.31. This represents a 5.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the company’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 owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,249 shares of company stock worth $1,132,065. Company insiders own 0.05% of the company’s stock.

Newmont Stock Down 0.2%

Shares of NYSE:NEM opened at $85.07 on Friday. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $89.37. The company has a market cap of $93.45 billion, a PE ratio of 15.27, a P/E/G ratio of 0.95 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. The stock’s 50-day moving average is $76.77 and its 200 day moving average is $62.44.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the business earned $0.72 EPS. Newmont’s revenue was up 20.8% compared to the same quarter last year. Sell-side analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont’s dividend payout ratio is 17.95%.

Analyst Ratings Changes

A number of research firms have recently weighed in on NEM. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. CIBC set a $112.00 target price on Newmont and gave the company an “outperformer” rating in a research note on Friday. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday. Royal Bank Of Canada raised Newmont from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $66.00 to $95.00 in a research note on Wednesday, September 10th. Finally, National Bankshares reissued an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus target price of $81.10.

About Newmont

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.