Hilltop National Bank Acquires 11,234 Shares of Newmont Co. (NYSE:NEM)

Hilltop National Bank increased its stake in shares of Newmont Co. (NYSE:NEM) by 80.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,259 shares of the basic materials company’s stock after acquiring an additional 11,234 shares during the quarter. Hilltop National Bank’s holdings in Newmont were worth $940,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont during the 2nd quarter valued at about $25,000. Acadian Asset Management LLC lifted its position in Newmont by 150.6% in the second quarter. Acadian Asset Management LLC now owns 53,917 shares of the basic materials company’s stock worth $2,255,000 after buying an additional 32,404 shares during the last quarter. Choreo LLC purchased a new position in Newmont during the second quarter worth $764,000. Daiwa Securities Group Inc. increased its position in Newmont by 7.4% during the second quarter. Daiwa Securities Group Inc. now owns 151,781 shares of the basic materials company’s stock valued at $6,355,000 after acquiring an additional 10,417 shares during the last quarter. Finally, MGO One Seven LLC raised its stake in shares of Newmont by 8.5% in the second quarter. MGO One Seven LLC now owns 52,932 shares of the basic materials company’s stock valued at $2,216,000 after acquiring an additional 4,139 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.5 %

NYSE:NEM traded up $0.18 during midday trading on Friday, reaching $39.31. 3,280,889 shares of the stock traded hands, compared to its average volume of 6,937,009. The business has a 50-day moving average of $40.86 and a two-hundred day moving average of $46.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The stock has a market capitalization of $44.75 billion, a PE ratio of -25.86, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50.

Newmont (NYSE:NEM) last announced its earnings results 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). The business had revenue of $4.61 billion for 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 company’s quarterly revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. On average, equities analysts forecast that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.54%. Newmont’s payout ratio is -65.79%.

Insider Transactions at Newmont

In related news, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction on Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the purchase, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NEM shares. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. Raymond James lowered their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Bernstein Bank lifted their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, Jefferies Financial Group upped 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $54.31.

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.