Newmont Co. (NYSE:NEM) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. lifted its stake in shares of Newmont Co. (NYSE:NEM) by 83.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,797 shares of the basic materials company’s stock after buying an additional 8,560 shares during the quarter. Blue Trust Inc.’s holdings in Newmont were worth $1,005,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. LRI Investments LLC acquired a new position in Newmont in the first quarter worth $25,000. Strategic Financial Concepts LLC acquired a new position in Newmont in the second quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in Newmont in the second quarter worth $27,000. Hoese & Co LLP acquired a new position in Newmont in the third quarter worth $27,000. Finally, Heritage Wealth Advisors boosted its holdings in Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 878 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NEM. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, August 29th. UBS Group boosted their price target on shares of Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, Jefferies Financial Group lifted their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. 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 data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Thursday, August 1st. The stock was 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 approximately $15,420,830.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $990,200.00. Following the transaction, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of Newmont stock opened at $57.62 on Monday. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $52.88 and its two-hundred day moving average price is $46.39. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $57.96. The stock has a market cap of $66.44 billion, a PE ratio of -21.58, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The firm had revenue of $4.40 billion for 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%. Newmont’s revenue was up 64.1% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. As a group, sell-side analysts anticipate that Newmont Co. will post 3.1 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. Newmont’s dividend payout ratio is currently -37.45%.

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.