D.A. Davidson & CO. Sells 63,978 Shares of Newmont Corporation $NEM

D.A. Davidson & CO. lessened its holdings in shares of Newmont Corporation (NYSE:NEM) by 63.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 37,626 shares of the basic materials company’s stock after selling 63,978 shares during the period. D.A. Davidson & CO.’s holdings in Newmont were worth $3,172,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Concord Wealth Partners grew its stake in shares of Newmont by 534.7% during 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 boosted its holdings in Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares during the last quarter. Capital A Wealth Management LLC grew its position in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after buying an additional 478 shares during the period. Caldwell Trust Co acquired a new position in shares of Newmont during the 2nd quarter worth about $31,000. Finally, Country Trust Bank bought a new stake in shares of Newmont in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,160 shares of company stock valued at $767,206 in the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

NEM opened at $106.90 on Friday. The company has a market capitalization of $116.66 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 0.84 and a beta of 0.41. The business’s 50-day moving average price is $93.78 and its two-hundred day moving average price is $80.23. Newmont Corporation has a 1 year low of $38.53 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.Newmont’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. Equities analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

Wall Street Analyst Weigh In

NEM has been the topic of several recent analyst reports. Argus lifted their price objective on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. TD Securities lifted their price target on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. BNP Paribas Exane lowered shares of Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price target for the company. in a report on Friday, December 5th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $120.00 target price on shares of Newmont in a report on Sunday, December 7th. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $97.08.

Newmont 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.