Checchi Capital Advisers LLC Has $381,000 Stake in Newmont Corporation $NEM

Checchi Capital Advisers LLC lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 7.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,548 shares of the basic materials company’s stock after selling 522 shares during the period. Checchi Capital Advisers LLC’s holdings in Newmont were worth $381,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. SOA Wealth Advisors LLC. raised its holdings in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 201 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Newmont during the first quarter valued at approximately $26,000. Colonial Trust Advisors raised its stake 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 valued at $27,000 after purchasing an additional 429 shares in the last quarter. Private Trust Co. NA lifted its position in 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. Finally, Alpine Bank Wealth Management acquired a new stake in Newmont during the first quarter worth $32,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $88.60 on Tuesday. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $89.37. The company has a 50 day moving average of $74.87 and a 200-day moving average of $61.56. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm has a market cap of $97.32 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 0.97 and a beta of 0.34.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the business earned $0.72 EPS. Newmont’s revenue was up 20.8% compared to the same quarter last year. On average, equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s dividend payout ratio (DPR) is 17.95%.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.99, for a total transaction of $176,779.20. Following the transaction, the director owned 36,869 shares in the company, valued at $3,133,496.31. This represents a 5.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,249 shares of company stock valued at $1,132,065 over the last ninety days. 0.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent research reports. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. The Goldman Sachs Group raised their price target on shares of Newmont from $63.10 to $77.30 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. UBS Group lifted their price objective on Newmont from $70.00 to $92.00 and gave the company a “buy” rating in a report on Friday, September 19th. BNP Paribas Exane increased their target price on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Finally, National Bankshares restated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.18.

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.