FNY Investment Advisers LLC Has $1.18 Million Position in Newmont Corporation $NEM

FNY Investment Advisers LLC lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 11.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,254 shares of the basic materials company’s stock after selling 2,718 shares during the quarter. FNY Investment Advisers LLC’s holdings in Newmont were worth $1,179,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Cloud Capital Management LLC bought a new position in Newmont during the 1st quarter worth $26,000. Colonial Trust Advisors boosted its stake in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after buying an additional 429 shares during the last quarter. Concord Wealth Partners lifted its stake in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC lifted its position in shares of 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 acquiring an additional 400 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 347 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NEM shares. Stifel Canada raised shares of Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. TD Securities raised their price objective on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Weiss Ratings lowered shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada upgraded shares of Newmont from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $66.00 to $95.00 in a report on Wednesday, September 10th. Four analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.59.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the transaction, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by corporate insiders.

Newmont Stock Down 9.1%

NEM opened at $86.26 on Wednesday. The stock has a market cap of $94.75 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 0.65 and a beta of 0.34. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The firm’s fifty day moving average is $80.11 and its 200 day moving average is $64.69.

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

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Newmont’s dividend payout ratio is presently 17.95%.

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.