Frank Rimerman Advisors LLC Sells 1,869 Shares of Newmont Corporation $NEM

Frank Rimerman Advisors LLC cut its holdings in shares of Newmont Corporation (NYSE:NEM) by 18.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,060 shares of the basic materials company’s stock after selling 1,869 shares during the period. Frank Rimerman Advisors LLC’s holdings in Newmont were worth $470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. Brighton Jones LLC lifted its position in shares of Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares during the period. CWM LLC raised its stake in Newmont by 12.7% in the first quarter. CWM LLC now owns 18,670 shares of the basic materials company’s stock worth $901,000 after buying an additional 2,103 shares in the last quarter. Private Advisor Group LLC raised its stake in Newmont by 9.7% in the first quarter. Private Advisor Group LLC now owns 89,104 shares of the basic materials company’s stock worth $4,302,000 after buying an additional 7,849 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in Newmont by 20.6% in the first quarter. HighPoint Advisor Group LLC now owns 7,226 shares of the basic materials company’s stock worth $383,000 after buying an additional 1,234 shares during the period. Finally, Guidance Capital Inc. bought a new stake in Newmont during the 1st quarter valued at approximately $439,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the sale, the director directly owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This trade represents a 5.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 11,237 shares of company stock worth $906,799. Insiders own 0.05% of the company’s stock.

Newmont Trading Up 0.9%

Newmont stock opened at $87.42 on Thursday. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58. The company has a market capitalization of $95.40 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The business’s fifty day simple moving average is $85.20 and its two-hundred day simple moving average is $69.54. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.44. The firm 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%.The company’s 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. As a group, equities analysts predict 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 will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s payout ratio is 15.53%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NEM shares. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $71.50 to $114.00 in a research report on Thursday, October 23rd. Weiss Ratings upgraded Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, November 13th. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Finally, Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.99.

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.