Greenleaf Trust Increases Stake in Newmont Co. (NYSE:NEM)

Greenleaf Trust boosted its stake in shares of Newmont Co. (NYSE:NEM) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,639 shares of the basic materials company’s stock after acquiring an additional 1,030 shares during the quarter. Greenleaf Trust’s holdings in Newmont were worth $1,477,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in shares of Newmont in the first quarter valued at approximately $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont in the second quarter valued at approximately $27,000. Hoese & Co LLP purchased a new stake in shares of Newmont in the third quarter valued at approximately $27,000. Finally, Heritage Wealth Advisors increased its position in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NEM shares. Bank of America boosted their price objective on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $48.00 to $59.00 in a research note on Monday, August 19th. BMO Capital Markets lifted their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. 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, Veritas raised Newmont to a “strong-buy” rating in a research note on Monday, September 30th. 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 stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average price target of $53.46.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares in the company, valued at $4,963,452.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,000 shares of company stock worth $3,434,640 in the last quarter. 0.06% of the stock is owned by company insiders.

Newmont Price Performance

NEM stock opened at $57.75 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $66.59 billion, a PE ratio of -21.63, a P/E/G ratio of 0.43 and a beta of 0.50. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The business’s fifty day moving average price is $53.43 and its 200 day moving average price is $46.74.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (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 the consensus estimate of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. On average, sell-side analysts anticipate that Newmont Co. will post 3.1 EPS for the current year.

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.