13,188 Shares in Newmont Co. (NYSE:NEM) Acquired by Cetera Trust Company N.A

Cetera Trust Company N.A bought a new position in Newmont Co. (NYSE:NEM) in the third quarter, HoldingsChannel reports. The fund bought 13,188 shares of the basic materials company’s stock, valued at approximately $705,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hoese & Co LLP acquired a new stake in Newmont in the 3rd quarter worth $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Newmont during the 2nd quarter valued at about $27,000. LRI Investments LLC bought a new position in Newmont during the 1st quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new position in Newmont during the 3rd quarter valued at about $48,000. Finally, Heritage Wealth Advisors lifted its holdings in 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 purchasing an additional 878 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on 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 in the company, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,000 shares of company stock worth $3,434,640. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NEM traded up $0.62 during midday trading on Tuesday, hitting $58.19. 2,199,022 shares of the company traded hands, compared to its average volume of 10,115,392. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.71. The firm has a market capitalization of $67.10 billion, a PE ratio of -21.57, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average is $53.06 and its 200 day moving average is $46.53.

Newmont (NYSE:NEM) last released its 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 company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 64.1% compared to the same quarter last year. On average, research analysts expect that Newmont Co. will post 3.1 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. Newmont’s dividend payout ratio is currently -37.45%.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. BMO Capital Markets upped their price target on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bank of America upped their price target on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and upped their price target for the stock from $46.00 to $61.00 in a research report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

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.