45,805 Shares in Newmont Co. (NYSE:NEM) Bought by AMG National Trust Bank

AMG National Trust Bank acquired a new stake in shares of Newmont Co. (NYSE:NEM – Get Rating) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 45,805 shares of the basic materials company’s stock, valued at approximately $1,925,000.

Several other hedge funds also recently added to or reduced their stakes in NEM. Blair William & Co. IL grew its stake in Newmont by 14.8% in the first quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock worth $3,378,000 after purchasing an additional 5,484 shares in the last quarter. Sei Investments Co. grew its position in Newmont by 19.3% in the first quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock worth $5,219,000 after buying an additional 10,692 shares during the last quarter. Cetera Investment Advisers raised its holdings in Newmont by 46.9% during the 1st quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock worth $2,217,000 after buying an additional 8,915 shares during the period. Baird Financial Group Inc. lifted its position in shares of Newmont by 7.2% in the 1st quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock valued at $47,324,000 after acquiring an additional 39,765 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Newmont by 25.8% during the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after buying an additional 278 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total value of $473,220.00. Following the completion of the sale, the chief executive officer now owns 221,949 shares in the company, valued at approximately $9,548,245.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $43.02, for a total transaction of $473,220.00. Following the completion of the sale, the chief executive officer now directly owns 221,949 shares in the company, valued at $9,548,245.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Casper sold 4,890 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total value of $205,282.20. Following the completion of the sale, the insider now directly owns 18,217 shares of the company’s stock, valued at approximately $764,749.66. The disclosure for this sale can be found here. Insiders have sold 46,890 shares of company stock worth $2,160,662 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $53.34 on Monday. The firm has a market capitalization of $42.34 billion, a PE ratio of 42.33 and a beta of 0.27. The firm has a fifty day simple moving average of $48.31 and a two-hundred day simple moving average of $46.06. Newmont Co. has a 12 month low of $37.45 and a 12 month high of $86.37. The company has a current ratio of 2.72, a quick ratio of 2.29 and a debt-to-equity ratio of 0.28.

Newmont (NYSE:NEM – Get Rating) last posted its earnings results on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.02). The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. Newmont had a return on equity of 8.07% and a net margin of 8.28%. Analysts forecast that Newmont Co. will post 1.82 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Thursday, December 8th were paid a $0.55 dividend. The ex-dividend date of this dividend was Wednesday, December 7th. This represents a $2.20 dividend on an annualized basis and a yield of 4.12%. Newmont’s dividend payout ratio is presently 174.60%.

Analysts Set New Price Targets

NEM has been the topic of a number of research reports. Raymond James dropped their price objective on Newmont from $58.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, January 13th. Barclays lowered their target price on shares of Newmont from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, November 21st. Canaccord Genuity Group reiterated a “hold” rating and set a $56.00 target price (up previously from $50.00) on shares of Newmont in a research report on Thursday. Eight Capital cut their price target on Newmont to $58.00 in a report on Thursday, October 27th. Finally, National Bank Financial upped their target price on shares of Newmont from C$76.00 to C$86.00 in a research report on Friday, January 13th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.63.

About Newmont

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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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.