Summit Trail Advisors LLC Grows Position in Newmont Co. (NYSE:NEM)

Summit Trail Advisors LLC boosted its stake in shares of Newmont Co. (NYSE:NEM) by 78.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,261 shares of the basic materials company’s stock after acquiring an additional 12,867 shares during the period. Summit Trail Advisors LLC’s holdings in Newmont were worth $1,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of Newmont in the first quarter worth about $25,000. Strategic Financial Concepts LLC bought a new stake in Newmont in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont during the 2nd quarter worth approximately $27,000. Heritage Wealth Advisors boosted its position in shares of Newmont by 1,310.4% during the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 878 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of Newmont in the first quarter valued at $35,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

Shares of NYSE NEM opened at $54.47 on Friday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $54.93. The company has a market cap of $62.81 billion, a PE ratio of -20.40, a P/E/G ratio of 0.37 and a beta of 0.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The business has a 50-day simple moving average of $50.10 and a two-hundred day simple moving average of $43.54.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. As a group, equities analysts expect that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. Newmont’s payout ratio is currently -37.45%.

Insider Buying and Selling

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. The disclosure for this sale can be found here. Insiders have sold a total of 56,000 shares of company stock valued at $2,744,700 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NEM shares. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $48.00 to $59.00 in a research report on Monday, August 19th. BNP Paribas raised Newmont to a “strong-buy” rating in a research note on Friday, June 21st. UBS Group boosted their price objective on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group increased their price objective on shares of Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.62.

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.