B. Riley Wealth Advisors Inc. Boosts Stake in Newmont Co. (NYSE:NEM)

B. Riley Wealth Advisors Inc. lifted its stake in shares of Newmont Co. (NYSE:NEM) by 3.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 100,884 shares of the basic materials company’s stock after acquiring an additional 3,653 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Newmont were worth $4,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Core Alternative Capital boosted its holdings in shares of Newmont by 10.3% in the 2nd quarter. Core Alternative Capital now owns 70,930 shares of the basic materials company’s stock worth $2,970,000 after purchasing an additional 6,602 shares in the last quarter. Seaport Global Advisors LLC bought a new stake in Newmont in the 2nd quarter worth approximately $416,000. Creative Planning boosted its stake in Newmont by 35.9% in the second quarter. Creative Planning now owns 104,843 shares of the basic materials company’s stock worth $4,390,000 after buying an additional 27,722 shares in the last quarter. Scientech Research LLC grew its position in Newmont by 19.2% during the second quarter. Scientech Research LLC now owns 9,277 shares of the basic materials company’s stock valued at $388,000 after acquiring an additional 1,494 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Newmont by 1.4% during the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock worth $337,909,000 after acquiring an additional 109,084 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock worth $2,197,010 in the last three months. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

NEM stock opened at $53.48 on Tuesday. The firm has a 50-day moving average of $50.96 and a 200 day moving average of $44.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The company has a market cap of $61.67 billion, a P/E ratio of -20.03, a PEG ratio of 0.47 and a beta of 0.49. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $56.30.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm’s revenue for the quarter was up 64.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. On average, sell-side analysts forecast that Newmont Co. will post 2.88 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio is presently -37.45%.

Analyst Ratings Changes

Several research firms recently commented on NEM. JPMorgan Chase & Co. lowered shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Bank of America raised their price objective on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. UBS Group boosted their target price on Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Jefferies Financial Group increased their target price on Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, BNP Paribas raised Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $52.62.

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.