Mid Atlantic Financial Management Inc. ADV Lowers Stock Position in Newmont Co. (NYSE:NEM)

Mid Atlantic Financial Management Inc. ADV cut its stake in shares of Newmont Co. (NYSE:NEM) by 3.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,231 shares of the basic materials company’s stock after selling 471 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in Newmont were worth $737,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. TCI Wealth Advisors Inc. grew its stake in shares of Newmont by 10.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,766 shares of the basic materials company’s stock valued at $106,000 after buying an additional 161 shares during the period. Commerce Bank grew its stake in shares of Newmont by 0.4% during the 1st quarter. Commerce Bank now owns 37,549 shares of the basic materials company’s stock valued at $2,263,000 after buying an additional 166 shares during the period. Adirondack Trust Co. boosted its position in Newmont by 13.0% during the 4th quarter. Adirondack Trust Co. now owns 1,482 shares of the basic materials company’s stock worth $88,000 after purchasing an additional 170 shares during the period. Creative Financial Designs Inc. ADV boosted its position in Newmont by 47.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 551 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 177 shares during the period. Finally, People s United Financial Inc. boosted its position in Newmont by 1.8% during the 4th quarter. People s United Financial Inc. now owns 10,286 shares of the basic materials company’s stock worth $616,000 after purchasing an additional 179 shares during the period. 78.56% of the stock is owned by institutional investors.

Shares of Newmont stock opened at $71.06 on Friday. The firm has a market cap of $56.93 billion, a price-to-earnings ratio of 22.28 and a beta of 0.27. The firm has a 50-day moving average of $67.77. The company has a current ratio of 2.40, a quick ratio of 2.12 and a debt-to-equity ratio of 0.23. Newmont Co. has a 1 year low of $53.16 and a 1 year high of $75.31.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 29th. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). Newmont had a net margin of 21.77% and a return on equity of 10.18%. Equities analysts expect that Newmont Co. will post 3.31 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, June 3rd will be paid a $0.55 dividend. The ex-dividend date is Wednesday, June 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.10%. Newmont’s dividend payout ratio (DPR) is presently 82.71%.

In related news, CEO Thomas Ronald Palmer sold 5,150 shares of the business’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $61.03, for a total transaction of $314,304.50. Following the completion of the sale, the chief executive officer now owns 281,825 shares of the company’s stock, valued at approximately $17,199,779.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jennifer Cmil sold 6,348 shares of the business’s stock in a transaction dated Friday, March 26th. The shares were sold at an average price of $61.00, for a total transaction of $387,228.00. Following the sale, the executive vice president now directly owns 17,814 shares of the company’s stock, valued at approximately $1,086,654. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,862 shares of company stock worth $3,255,921. Company insiders own 0.12% of the company’s stock.

A number of brokerages recently weighed in on NEM. TD Securities decreased their price target on shares of Newmont from $78.00 to $74.00 and set a “buy” rating for the company in a research report on Friday, February 26th. National Bank Financial reaffirmed an “outperform” rating on shares of Newmont in a research report on Friday, April 23rd. Citigroup decreased their price target on shares of Newmont from $70.00 to $66.00 in a research report on Friday, February 19th. Jefferies Financial Group upped their price target on shares of Newmont from $53.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, May 17th. Finally, Raymond James upped their price target on shares of Newmont from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Newmont currently has an average rating of “Buy” and an average target price of $69.69.

About Newmont

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, and Ghana. As of December 31, 2020, it had proven and probable gold reserves of 94.2 million ounces and land position of 58,900 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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