OLD Point Trust & Financial Services N A Acquires 6,600 Shares of Newmont Corporation $NEM

OLD Point Trust & Financial Services N A boosted its holdings in Newmont Corporation (NYSE:NEM) by 6,600.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,700 shares of the basic materials company’s stock after acquiring an additional 6,600 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Newmont were worth $565,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares during the last quarter. American Century Companies Inc. boosted its holdings in Newmont by 15.7% during the 1st quarter. American Century Companies Inc. now owns 994,038 shares of the basic materials company’s stock worth $47,992,000 after acquiring an additional 134,945 shares during the last quarter. Cresset Asset Management LLC grew its stake in shares of Newmont by 3.2% in the 1st quarter. Cresset Asset Management LLC now owns 19,213 shares of the basic materials company’s stock worth $928,000 after acquiring an additional 598 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of Newmont by 19.9% in the 1st quarter. Brooklyn Investment Group now owns 4,975 shares of the basic materials company’s stock worth $240,000 after acquiring an additional 827 shares in the last quarter. Finally, Aviso Financial Inc. raised its holdings in shares of Newmont by 43.8% in the first quarter. Aviso Financial Inc. now owns 952 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 290 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,240 shares of company stock valued at $943,985 in the last quarter. Corporate insiders own 0.05% of the company’s stock.

Newmont Price Performance

Shares of NYSE NEM opened at $99.28 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $88.51 and a two-hundred day simple moving average of $75.06. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $102.13. The firm has a market cap of $108.34 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 0.68 and a beta of 0.41.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. Analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NEM. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Bank of America upped their target price on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Argus increased their price target on Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. BNP Paribas lowered Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target on the stock. in a report on Friday, December 5th. Finally, National Bankshares upped their price objective on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $96.37.

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.