Newmont Co. (NYSE:NEM) Shares Sold by Argent Trust Co

Argent Trust Co lessened its stake in Newmont Co. (NYSE:NEM) by 5.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,935 shares of the basic materials company’s stock after selling 590 shares during the quarter. Argent Trust Co’s holdings in Newmont were worth $458,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. American International Group Inc. increased its stake in shares of Newmont by 24.8% in the 4th quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock worth $12,116,000 after acquiring an additional 58,217 shares during the last quarter. Premier Fund Managers Ltd purchased a new position in Newmont during the fourth quarter worth about $1,276,000. Nations Financial Group Inc. IA ADV acquired a new position in Newmont in the 4th quarter valued at about $1,167,000. Virtu Financial LLC purchased a new stake in shares of Newmont in the 4th quarter valued at approximately $3,313,000. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Newmont by 26.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 184,604 shares of the basic materials company’s stock worth $7,641,000 after buying an additional 39,053 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 29th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. BMO Capital Markets increased their target price on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, UBS Group lifted their price target on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.62.

Newmont Trading Up 0.9 %

Shares of NEM stock opened at $53.52 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 50 day moving average price of $49.97 and a 200 day moving average price of $43.33. The stock has a market capitalization of $61.72 billion, a P/E ratio of -20.04, a price-to-earnings-growth 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.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Equities research analysts predict that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.87%. Newmont’s dividend payout ratio (DPR) is -37.45%.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 in the company, valued at approximately $15,420,830.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were 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 approximately $15,420,830.19. The disclosure for this sale can be found here. Insiders have sold 56,000 shares of company stock valued at $2,744,700 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.