Newmont Co. (NYSE:NEM) Shares Purchased by AMG National Trust Bank

AMG National Trust Bank lifted its holdings in Newmont Co. (NYSE:NEM) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,088 shares of the basic materials company’s stock after purchasing an additional 5,056 shares during the period. AMG National Trust Bank’s holdings in Newmont were worth $4,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Newmont by 43.8% in the fourth quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock valued at $4,915,059,000 after purchasing an additional 36,170,995 shares in the last quarter. Van ECK Associates Corp raised its stake in Newmont by 57.2% during the fourth quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock worth $2,122,913,000 after purchasing an additional 18,664,614 shares during the period. Norges Bank purchased a new stake in shares of Newmont in the 4th quarter valued at approximately $604,516,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Newmont by 44.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock worth $1,019,813,000 after buying an additional 7,635,657 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Newmont by 39.8% during the 1st quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock valued at $832,354,000 after buying an additional 6,617,145 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares in the company, valued at approximately $13,964,788.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of several recent analyst reports. Jefferies Financial Group increased their price target on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 12th. CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and lifted their target price for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.92.

Newmont Stock Performance

Newmont stock traded up $0.63 during midday trading on Friday, hitting $52.04. 4,569,348 shares of the company’s stock were exchanged, compared to its average volume of 10,794,514. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The stock has a market cap of $60.01 billion, a price-to-earnings ratio of -19.49, a price-to-earnings-growth ratio of 0.37 and a beta of 0.47. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $52.40. The firm’s 50 day simple moving average is $46.36 and its 200 day simple moving average is $40.72.

Newmont (NYSE:NEM) last issued its quarterly earnings results 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. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was up 64.1% on a year-over-year basis. Equities research analysts predict that Newmont Co. will post 2.76 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

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.