13,345 Shares in Newmont Corporation $NEM Acquired by Renasant Bank

Renasant Bank purchased a new stake in Newmont Corporation (NYSE:NEM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,345 shares of the basic materials company’s stock, valued at approximately $777,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hemington Wealth Management boosted its stake in Newmont by 17.6% in the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 170 shares during the period. IVC Wealth Advisors LLC grew its stake in shares of Newmont by 1.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after acquiring an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Newmont by 11.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 185 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in Newmont by 4.4% during the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock worth $260,000 after purchasing an additional 190 shares during the last quarter. Finally, Chelsea Counsel Co. grew its position in Newmont by 1.0% in the second quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock valued at $1,067,000 after purchasing an additional 190 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the stock a “buy” rating in a research note on Sunday, October 12th. UBS Group increased their price objective on Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a report on Thursday, October 16th. Raymond James Financial set a $99.00 price target on shares of Newmont and gave the stock an “outperform” rating in a research report on Friday, October 24th. Macquarie lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $88.99.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the transaction, the director directly owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Performance

Shares of NEM stock opened at $89.94 on Wednesday. The company has a market capitalization of $98.15 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 0.53 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $98.58. The company has a 50-day simple moving average of $83.70 and a 200 day simple moving average of $68.14.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 earnings per share. On average, sell-side analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

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.