Whittier Trust Co. Purchases 435 Shares of Newmont Co. (NYSE:NEM)

Whittier Trust Co. increased its position in Newmont Co. (NYSE:NEM) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,040 shares of the basic materials company’s stock after purchasing an additional 435 shares during the quarter. Whittier Trust Co.’s holdings in Newmont were worth $804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NEM. Bessemer Group Inc. lifted its holdings in shares of Newmont by 7.5% during the 1st quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 529 shares during the last quarter. Herr Investment Group LLC acquired a new stake in Newmont during the 2nd quarter worth about $419,000. Truist Financial Corp grew its position in shares of Newmont by 8.1% during the 2nd 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. Primoris Wealth Advisors LLC acquired a new stake in shares of Newmont during the 2nd quarter valued at about $607,000. Finally, Forsta AP Fonden grew its position in shares of Newmont by 9.6% during the 1st quarter. Forsta AP Fonden now owns 252,100 shares of the basic materials company’s stock valued at $9,035,000 after acquiring an additional 22,100 shares during the period. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of a number of analyst reports. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Bank of America raised their target price on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. BMO Capital Markets raised their target price on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $48.00 to $59.00 in a research report on Monday, August 19th. Finally, UBS Group lifted their price objective on Newmont from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.46.

Newmont Trading Down 1.6 %

NEM opened at $57.75 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The company’s 50 day simple moving average is $53.43 and its two-hundred day simple moving average is $46.74. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The firm has a market capitalization of $66.59 billion, a price-to-earnings ratio of -21.63, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business’s revenue for the quarter was up 64.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. Analysts expect that Newmont Co. will post 3.1 EPS for the current fiscal year.

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 shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’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 sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is currently owned by company insiders.

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.