AMG National Trust Bank Buys 1,287 Shares of Newmont Co. (NYSE:NEM)

AMG National Trust Bank raised its stake in Newmont Co. (NYSE:NEM) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,375 shares of the basic materials company’s stock after acquiring an additional 1,287 shares during the period. AMG National Trust Bank’s holdings in Newmont were worth $5,312,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. grew its stake in Newmont by 67.5% during the first quarter. Sei Investments Co. now owns 203,859 shares of the basic materials company’s stock worth $7,307,000 after buying an additional 82,165 shares during the last quarter. Blair William & Co. IL raised its position in Newmont by 4.4% in the 1st quarter. Blair William & Co. IL now owns 31,636 shares of the basic materials company’s stock valued at $1,134,000 after purchasing an additional 1,339 shares during the last quarter. TIAA Trust National Association acquired a new position in Newmont in the first quarter worth $208,000. Osaic Holdings Inc. grew its holdings in shares of Newmont by 86.6% during the first quarter. Osaic Holdings Inc. now owns 275,145 shares of the basic materials company’s stock worth $9,864,000 after purchasing an additional 127,684 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of Newmont in the first quarter valued at about $1,427,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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 completion of the transaction, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at $15,293,378.43. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock valued at $2,444,440. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $40.93 on Monday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The stock’s fifty day simple moving average is $51.11 and its 200 day simple moving average is $47.44. The company has a market capitalization of $46.60 billion, a PE ratio of -26.93, a PEG ratio of 0.34 and a beta of 0.51. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, research analysts predict that Newmont Co. will post 3.15 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.44%. Newmont’s dividend payout ratio is currently -65.79%.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research reports. Jefferies Financial Group raised their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Thursday, August 29th. Finally, Royal Bank of Canada lowered their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.14.

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.