Trust Co. of Toledo NA OH Makes New Investment in Newmont Co. (NYSE:NEM)

Trust Co. of Toledo NA OH bought a new stake in Newmont Co. (NYSE:NEM) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,696 shares of the basic materials company’s stock, valued at approximately $251,000.

Several other large investors have also made changes to their positions in NEM. Pekin Hardy Strauss Inc. increased its holdings in shares of Newmont by 0.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 64,082 shares of the basic materials company’s stock worth $2,683,000 after buying an additional 233 shares in the last quarter. KCM Investment Advisors LLC boosted its stake in Newmont by 2.3% in the second quarter. KCM Investment Advisors LLC now owns 10,819 shares of the basic materials company’s stock worth $453,000 after purchasing an additional 244 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of Newmont by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 278 shares during the last quarter. Moody National Bank Trust Division raised its holdings in shares of Newmont by 1.7% in the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock valued at $647,000 after buying an additional 296 shares during the last quarter. Finally, Crestmont Private Wealth LLC increased its position in Newmont by 4.9% in the 1st quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 319 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $48.00 to $59.00 in a research note on Monday, August 19th. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and upped their price target for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. Finally, BNP Paribas upgraded Newmont to a “strong-buy” rating in a report on Friday, June 21st. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $52.62.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated 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 directly 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 can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred 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 owns 91,596 shares in the company, valued at approximately $4,928,780.76. The disclosure for this sale can be found here. In the last three months, insiders sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is owned by company insiders.

Newmont Stock Performance

Shares of NEM stock opened at $53.20 on Friday. The stock has a market cap of $61.35 billion, a PE ratio of -19.93, a price-to-earnings-growth ratio of 0.47 and a beta of 0.49. The stock has a 50-day moving average of $51.38 and a 200-day moving average of $44.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a one year low of $29.42 and a one year high of $56.30.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio is currently -37.45%.

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.