Independent Solutions Wealth Management LLC Sells 2,199 Shares of Newmont Corporation $NEM

Independent Solutions Wealth Management LLC lowered its holdings in Newmont Corporation (NYSE:NEM) by 13.7% during the second quarter, HoldingsChannel.com reports. The fund owned 13,849 shares of the basic materials company’s stock after selling 2,199 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Newmont were worth $807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. raised its holdings in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after buying an additional 201 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Newmont during the first quarter worth about $26,000. Colonial Trust Advisors increased its holdings in shares of Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after buying an additional 429 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after buying an additional 347 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Newmont in the first quarter valued at approximately $32,000. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 2.0%

Shares of NYSE:NEM opened at $88.60 on Tuesday. 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 company has a 50-day simple moving average of $74.87 and a 200 day simple moving average of $61.56. The company has a market capitalization of $97.32 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $89.37.

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

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Stifel Canada raised shares of Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. National Bankshares reiterated an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. Finally, CIBC boosted their price objective on shares of Newmont from $74.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, September 12th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.18.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on 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 directly owned 36,869 shares of the company’s stock, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president directly owned 58,736 shares of the company’s stock, valued at $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,249 shares of company stock valued at $1,132,065 in the last ninety days. 0.05% of the stock is currently owned by corporate insiders.

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.