Clearstead Advisors LLC Has $469,000 Stake in Newmont Co. (NYSE:NEM)

Clearstead Advisors LLC decreased its position in Newmont Co. (NYSE:NEM – Get Rating) by 5.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,165 shares of the basic materials company’s stock after selling 652 shares during the period. Clearstead Advisors LLC’s holdings in Newmont were worth $469,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEM. Blair William & Co. IL raised its stake in shares of Newmont by 14.8% in the 1st quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock valued at $3,378,000 after purchasing an additional 5,484 shares during the period. Sei Investments Co. raised its stake in shares of Newmont by 19.3% in the 1st quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock valued at $5,219,000 after purchasing an additional 10,692 shares during the period. Cetera Investment Advisers raised its stake in shares of Newmont by 46.9% in the 1st quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock valued at $2,217,000 after purchasing an additional 8,915 shares during the period. Baird Financial Group Inc. raised its stake in shares of Newmont by 7.2% in the 1st quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock valued at $47,324,000 after purchasing an additional 39,765 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of Newmont by 25.8% in the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 278 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Newmont Trading Down 0.6 %

Newmont stock opened at $44.87 on Wednesday. Newmont Co. has a 52 week low of $37.45 and a 52 week high of $86.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.23. The stock has a market capitalization of $35.62 billion, a P/E ratio of -83.09, a PEG ratio of 1.58 and a beta of 0.31. The stock has a 50-day simple moving average of $48.70 and a 200 day simple moving average of $45.74.

Newmont (NYSE:NEM – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.03). Newmont had a positive return on equity of 6.98% and a negative net margin of 3.60%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue was down 5.6% on a year-over-year basis. Analysts expect that Newmont Co. will post 2.3 earnings per share for the current year.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, March 8th. Newmont’s dividend payout ratio is presently -296.29%.

Analyst Ratings Changes

NEM has been the topic of a number of recent research reports. TD Securities raised Newmont from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Friday, February 24th. Canaccord Genuity Group raised Newmont from a “hold” rating to a “buy” rating and lifted their target price for the company from $53.00 to $55.00 in a research report on Monday. Fundamental Research set a $51.92 target price on Newmont and gave the company a “buy” rating in a research report on Tuesday, March 7th. Raymond James lowered their target price on Newmont from $61.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. Finally, Credit Suisse Group lifted their target price on Newmont to $54.00 in a research report on Monday, November 21st. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.21.

Insider Transactions at Newmont

In other news, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $48.23, for a total transaction of $144,690.00. Following the completion of the sale, the chief operating officer now owns 33,947 shares in the company, valued at $1,637,263.81. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $44.25, for a total value of $486,750.00. Following the completion of the sale, the chief executive officer now directly owns 322,039 shares in the company, valued at $14,250,225.75. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total value of $144,690.00. Following the completion of the sale, the chief operating officer now owns 33,947 shares of the company’s stock, valued at $1,637,263.81. The disclosure for this sale can be found here. Insiders sold a total of 28,000 shares of company stock worth $1,294,720 over the last quarter. Company insiders own 0.11% of the company’s stock.

About Newmont

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Newmont Corp. is a gold producer, engages in the exploration and acquisition of gold properties, contains copper, silver, lead, zinc or other metals. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.