Fulton Bank N.A. Boosts Holdings in Newmont Co. (NYSE:NEM)

Fulton Bank N.A. lifted its stake in shares of Newmont Co. (NYSE:NEM) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,188 shares of the basic materials company’s stock after purchasing an additional 221 shares during the period. Fulton Bank N.A.’s holdings in Newmont were worth $812,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of NEM. American International Group Inc. raised its holdings in shares of Newmont by 24.8% during the fourth quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock valued at $12,116,000 after acquiring an additional 58,217 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Newmont in the fourth quarter valued at about $3,313,000. GLOBALT Investments LLC GA purchased a new position in shares of Newmont in the fourth quarter worth about $2,570,000. Bessemer Group Inc. boosted its position in Newmont by 7.5% during the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock worth $271,000 after acquiring an additional 529 shares during the last quarter. Finally, Herr Investment Group LLC purchased a new stake in Newmont during the 2nd quarter valued at about $419,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Veritas raised shares of Newmont to a “strong-buy” rating in a research note on Monday, September 30th. BNP Paribas upgraded Newmont to a “strong-buy” rating in a report on Friday, June 21st. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $48.00 to $59.00 in a report on Monday, August 19th. Bank of America upped their price objective on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Jefferies Financial Group lifted their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.31.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. 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 through this link. In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’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 $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,000 shares of company stock worth $3,434,640. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

NEM stock opened at $52.74 on Wednesday. The business’s fifty day moving average price is $51.62 and its 200 day moving average price is $45.16. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $56.30. The company has a market capitalization of $60.82 billion, a PE ratio of -19.75, a P/E/G ratio of 0.47 and a beta of 0.50. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) 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 business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the prior year, the company earned $0.33 earnings per share. The business’s quarterly revenue was up 64.1% on a year-over-year basis. On average, sell-side analysts anticipate that Newmont Co. will post 2.88 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed 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 1.90%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio is currently -37.45%.

Newmont 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.