Equitable Trust Co. Invests $202,000 in Newmont Co. (NYSE:NEM)

Equitable Trust Co. acquired a new stake in Newmont Co. (NYSE:NEM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,784 shares of the basic materials company’s stock, valued at approximately $202,000.

Other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its position in shares of Newmont by 102.9% in the 1st quarter. Empowered Funds LLC now owns 25,453 shares of the basic materials company’s stock worth $912,000 after purchasing an additional 12,908 shares during the period. Atomi Financial Group Inc. purchased a new stake in Newmont during the first quarter worth $316,000. Sei Investments Co. boosted its position in Newmont by 67.5% during the 1st quarter. Sei Investments Co. now owns 203,859 shares of the basic materials company’s stock valued at $7,307,000 after acquiring an additional 82,165 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of Newmont by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 278 shares during the period. Finally, Legacy Capital Group California Inc. raised its position in shares of Newmont by 119.8% in the 1st quarter. Legacy Capital Group California Inc. now owns 11,241 shares of the basic materials company’s stock worth $403,000 after acquiring an additional 6,127 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NYSE NEM opened at $45.04 on Monday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a market cap of $51.28 billion, a P/E ratio of -29.63, a P/E/G ratio of 0.37 and a beta of 0.51. The business’s 50 day moving average price is $52.17 and its 200 day moving average price is $47.40.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. 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 previous year, the company earned $0.36 EPS. The firm’s revenue was up 84.7% compared to the same quarter last year. On average, sell-side analysts expect that Newmont Co. will post 3.15 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. Newmont’s payout ratio is -65.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NEM shares. Royal Bank of Canada dropped their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $59.00 to $55.00 in a report on Friday, October 25th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Raymond James increased their target price on shares of Newmont from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.85.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the transaction, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the transaction, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the 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 directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The trade was 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 46,000 shares of company stock valued at $2,444,440 over the last ninety days. Company insiders own 0.06% of the company’s stock.

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.