Valley Wealth Managers Inc. Sells 2,181 Shares of Newmont Co. (NYSE:NEM)

Valley Wealth Managers Inc. decreased its position in shares of Newmont Co. (NYSE:NEM) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 305,326 shares of the basic materials company’s stock after selling 2,181 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Newmont were worth $16,320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of NEM. Vanguard Group Inc. grew its holdings in Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after buying an additional 16,190,422 shares in the last quarter. Maj Invest Holding A S lifted its holdings in Newmont by 296.0% during the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after purchasing an additional 2,561,823 shares in the last quarter. Capital International Investors purchased a new stake in Newmont during the 1st quarter worth about $49,444,000. Van ECK Associates Corp raised its holdings in shares of Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after acquiring an additional 1,289,084 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Newmont by 262.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after acquiring an additional 1,096,905 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Royal Bank of Canada reduced their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. UBS Group lowered 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 raised their price target on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, BMO Capital Markets lifted their price objective on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.14.

Newmont Stock Up 1.0 %

Shares of NEM traded up $0.42 on Friday, reaching $41.10. The stock had a trading volume of 1,263,040 shares, compared to its average volume of 10,502,281. The company has a 50-day simple moving average of $51.30 and a 200-day simple moving average of $47.36. The firm has a market capitalization of $46.79 billion, a price-to-earnings ratio of -27.03, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. Sell-side analysts predict that Newmont Co. will post 3.15 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Newmont 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.