Nations Financial Group Inc. IA ADV Sells 23,050 Shares of Newmont Corporation $NEM

Nations Financial Group Inc. IA ADV cut its holdings in Newmont Corporation (NYSE:NEM) by 66.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,527 shares of the basic materials company’s stock after selling 23,050 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Newmont were worth $1,248,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GoalVest Advisory LLC acquired a new position in shares of Newmont during the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new stake in Newmont in the fourth quarter valued at $26,000. Cornerstone Planning Group LLC raised its holdings in shares of Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Newmont during the third quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Newmont during the 4th quarter worth about $28,000. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Canaccord Genuity Group boosted their target price on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Bank of America increased their price target on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. TD Cowen restated a “buy” rating on shares of Newmont in a report on Monday, April 27th. Royal Bank Of Canada lowered their target price on Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Finally, Jefferies Financial Group upped their target price on Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.98.

Newmont Stock Performance

Shares of NEM opened at $101.78 on Tuesday. The firm has a market capitalization of $108.65 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.72 and a beta of 0.42. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88. The stock has a 50 day moving average price of $109.68 and a two-hundred day moving average price of $110.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter last year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. Equities analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is 13.49%.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the transaction, the executive vice president directly owned 46,315 shares in the company, valued at approximately $4,877,895.80. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the sale, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,556 shares of company stock valued at $3,120,276 over the last quarter. 0.06% of the stock is owned by insiders.

About Newmont

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.