AlphaCore Capital LLC Sells 1,384 Shares of Newmont Co. (NYSE:NEM)

AlphaCore Capital LLC decreased its holdings in shares of Newmont Co. (NYSE:NEM) by 23.2% during the 3rd quarter, Holdings Channel reports. The firm owned 4,592 shares of the basic materials company’s stock after selling 1,384 shares during the quarter. AlphaCore Capital LLC’s holdings in Newmont were worth $245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Heathbridge Capital Management Ltd. boosted its position in shares of Newmont by 2.0% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after purchasing an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB raised its stake in Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after buying an additional 200 shares during the period. Fulton Bank N.A. raised its stake in shares of Newmont by 1.5% in the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after purchasing an additional 221 shares during the last quarter. Carmel Capital Partners LLC grew its holdings in shares of Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 226 shares in the last quarter. Finally, Good Life Advisors LLC boosted its stake in Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after acquiring an additional 229 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Veritas raised Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $59.00 to $55.00 in a research note on Friday, October 25th. Finally, CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.85.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. The trade was a 6.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $2,444,440 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Up 0.6 %

Shares of NYSE NEM opened at $43.24 on Friday. The stock has a market cap of $49.23 billion, a P/E ratio of -28.45, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm has a 50-day moving average of $50.43 and a 200 day moving average of $47.41.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, sell-side analysts expect that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.31%. Newmont’s dividend payout ratio is currently -65.79%.

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, Papua New Guinea, Ecuador, Fiji, and Ghana.