Newmont Co. (NYSE:NEM) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its holdings in Newmont Co. (NYSE:NEM) by 905.7% during the 3rd quarter, Holdings Channel reports. The fund owned 129,023 shares of the basic materials company’s stock after purchasing an additional 116,194 shares during the period. Citizens Financial Group Inc. RI’s holdings in Newmont were worth $6,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Waverton Investment Management Ltd grew its position in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after purchasing an additional 65,075 shares during the period. Red Cedar Investment Management LLC purchased a new stake in shares of Newmont in the third quarter worth about $1,263,000. Bessemer Group Inc. grew its holdings 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 period. Herr Investment Group LLC purchased a new position in Newmont during the second quarter valued at approximately $419,000. Finally, Truist Financial Corp lifted its holdings in Newmont by 8.1% in the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock valued at $6,295,000 after acquiring an additional 11,276 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, August 29th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $59.00 to $55.00 in a report on Friday, October 25th. Royal Bank of Canada lowered their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. BMO Capital Markets upped their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.85.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 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 $157,410.00. Following the completion of the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont 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 directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock worth $2,444,440 in the last three months. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

Newmont stock opened at $43.24 on Friday. The company has a fifty day simple moving average of $50.43 and a 200-day simple moving average of $47.41. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $49.23 billion, a price-to-earnings ratio of -28.45, a PEG ratio of 0.36 and a beta of 0.51. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. On average, equities analysts anticipate that Newmont Co. will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is currently -65.79%.

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.