Fruth Investment Management Has $1.76 Million Position in Newmont Co. (NYSE:NEM)


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Fruth Investment Management reduced its position in shares of Newmont Co. (NYSE:NEM) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,399 shares of the basic materials company’s stock after selling 300 shares during the period. Fruth Investment Management’s holdings in Newmont were worth $1,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Benson Investment Management Company Inc. lifted its holdings in Newmont by 11.2% during the 4th quarter. Benson Investment Management Company Inc. now owns 70,014 shares of the basic materials company’s stock worth $4,193,000 after purchasing an additional 7,044 shares during the last quarter. Radnor Capital Management LLC raised its holdings in Newmont by 1.3% in the 4th quarter. Radnor Capital Management LLC now owns 31,164 shares of the basic materials company’s stock valued at $1,866,000 after acquiring an additional 410 shares in the last quarter. Sowell Financial Services LLC raised its holdings in Newmont by 5.9% in the 4th quarter. Sowell Financial Services LLC now owns 13,441 shares of the basic materials company’s stock valued at $805,000 after acquiring an additional 751 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in Newmont by 1,635.6% in the 4th quarter. DAVENPORT & Co LLC now owns 835,900 shares of the basic materials company’s stock valued at $50,062,000 after acquiring an additional 787,737 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in Newmont by 5.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 16,797 shares of the basic materials company’s stock valued at $1,006,000 after acquiring an additional 923 shares in the last quarter. 75.69% of the stock is owned by institutional investors and hedge funds.

In related news, CAO John Kitlen sold 2,000 shares of the firm’s stock in a transaction on Monday, January 4th. The stock was sold at an average price of $61.95, for a total value of $123,900.00. Following the transaction, the chief accounting officer now directly owns 31,653 shares of the company’s stock, valued at approximately $1,960,903.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP E Randall Engel sold 5,000 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $64.31, for a total value of $321,550.00. Following the completion of the sale, the executive vice president now owns 274,341 shares of the company’s stock, valued at approximately $17,642,869.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,815 shares of company stock valued at $2,641,618. 0.28% of the stock is currently owned by insiders.

Shares of NYSE:NEM traded down $0.26 on Wednesday, reaching $62.23. 395,673 shares of the company traded hands, compared to its average volume of 7,012,408. The business’s 50-day simple moving average is $60.28 and its 200 day simple moving average is $63.14. Newmont Co. has a 52 week low of $33.00 and a 52 week high of $72.22. The stock has a market capitalization of $49.99 billion, a P/E ratio of 19.75 and a beta of 0.15. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 0.26.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 29th. The basic materials company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.07. Newmont had a return on equity of 7.37% and a net margin of 23.19%. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Sell-side analysts expect that Newmont Co. will post 2.59 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 28th. Stockholders of record on Friday, December 11th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, December 10th. This is an increase from Newmont’s previous quarterly dividend of $0.25. Newmont’s dividend payout ratio (DPR) is presently 121.21%.

Several equities analysts have weighed in on the company. Raymond James lifted their price objective on Newmont from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, December 9th. BidaskClub raised Newmont from a “strong sell” rating to a “sell” rating in a report on Thursday, January 7th. Zacks Investment Research cut Newmont from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a report on Wednesday, November 25th. TD Securities lifted their price objective on Newmont from $85.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, December 9th. Finally, National Bank Financial reiterated an “outperform” rating on shares of Newmont in a research note on Monday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $72.51.

About Newmont

Newmont Corporation engages in the production and exploration of gold, 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, 2019, it had proven and probable gold reserves of 100.2 million ounces and land position of 68,300 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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