Aire Advisors LLC Sells 1,000 Shares of Newmont Co. (NYSE:NEM)

Aire Advisors LLC reduced its stake in shares of Newmont Co. (NYSE:NEM) by 8.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,265 shares of the basic materials company’s stock after selling 1,000 shares during the period. Aire Advisors LLC’s holdings in Newmont were worth $419,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its stake in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares during the last quarter. HHM Wealth Advisors LLC boosted its position in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Promus Capital LLC purchased a new stake in Newmont in the 4th quarter valued at $38,000. McIlrath & Eck LLC boosted its position in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of Newmont in the 4th quarter worth approximately $43,000. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on NEM. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday. Scotiabank dropped their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. CLSA initiated coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Finally, TD Securities lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Insiders Place Their Bets

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NEM stock opened at $46.81 on Tuesday. Newmont Co. has a 1 year low of $33.86 and a 1 year 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. The stock’s fifty day moving average is $44.25 and its two-hundred day moving average is $45.50. The stock has a market capitalization of $52.76 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. On average, research analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.14%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

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.