B. Riley Wealth Advisors Inc. Sells 34,335 Shares of Newmont Co. (NYSE:NEM)

B. Riley Wealth Advisors Inc. lessened its holdings in Newmont Co. (NYSE:NEM) by 34.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,549 shares of the basic materials company’s stock after selling 34,335 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Newmont were worth $3,555,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Waverton Investment Management Ltd increased its position in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock valued at $28,379,000 after buying an additional 65,075 shares in the last quarter. Red Cedar Investment Management LLC purchased a new stake in shares of Newmont in the third quarter worth $1,263,000. Bridgewater Associates LP grew its stake in shares of Newmont by 1,947.6% in the third quarter. Bridgewater Associates LP now owns 711,591 shares of the basic materials company’s stock worth $38,035,000 after acquiring an additional 676,838 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Newmont by 99.8% during the third quarter. Two Sigma Advisers LP now owns 601,276 shares of the basic materials company’s stock valued at $32,138,000 after acquiring an additional 300,400 shares in the last quarter. Finally, Herr Investment Group LLC bought a new position in Newmont in the 2nd quarter worth about $419,000. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. CLSA initiated coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. Scotiabank downgraded Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $59.00 to $55.00 in a report on Friday, October 25th. Finally, Bernstein Bank upped their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $54.31.

Newmont Stock Down 3.2 %

Shares of NEM stock opened at $40.22 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The stock has a market cap of $45.79 billion, a P/E ratio of -26.46, a P/E/G ratio of 0.36 and a beta of 0.49. The company has a 50 day simple moving average of $46.50 and a two-hundred day simple moving average of $47.35.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm earned $0.36 EPS. The company’s revenue was up 84.7% on a year-over-year basis. On average, research analysts expect that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. This trade represents a 6.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

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.