Prudent Man Advisors LLC Sells 1,528 Shares of Newmont Corporation $NEM

Prudent Man Advisors LLC decreased its position in shares of Newmont Corporation (NYSE:NEM) by 9.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,989 shares of the basic materials company’s stock after selling 1,528 shares during the period. Prudent Man Advisors LLC’s holdings in Newmont were worth $815,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NEM. Cloud Capital Management LLC bought a new position in Newmont during the 1st quarter worth $26,000. Colonial Trust Advisors increased its position in shares of Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares during the period. Concord Wealth Partners increased its position in shares of Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares during the period. Evermay Wealth Management LLC increased its position in shares of Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the period. Finally, Private Trust Co. NA increased its position in shares of Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 347 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the sale, the director directly owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, 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. Over the last three months, insiders have sold 16,249 shares of company stock valued at $1,132,065. 0.05% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NEM has been the topic of a number of recent analyst reports. Citigroup raised their price target on Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. TD Securities raised 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. Weiss Ratings raised Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday. Stifel Nicolaus assumed coverage on Newmont in a research note on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price objective on the stock. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Five research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Newmont presently has an average rating of “Buy” and an average price target of $90.59.

Newmont Stock Performance

NYSE:NEM opened at $83.25 on Friday. The stock’s 50-day simple moving average is $81.17 and its 200 day simple moving average is $65.56. The firm has a market capitalization of $91.45 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.57 and a beta of 0.34. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.69% and a net margin of 33.42%.The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

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.