Simmons Bank Acquires New Shares in Newmont Corporation $NEM

Simmons Bank bought a new position in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,071 shares of the basic materials company’s stock, valued at approximately $295,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Concord Wealth Partners increased its holdings in shares of Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew its position in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Colonial Trust Advisors grew its position in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 429 shares during the period. Financial Management Professionals Inc. increased its stake in Newmont by 274.1% during the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 444 shares in the last quarter. Finally, ST Germain D J Co. Inc. raised its holdings in Newmont by 92.3% during the 2nd quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company’s stock worth $36,000 after buying an additional 300 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $168,396.80. Following the completion of the transaction, the director owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. This represents a 5.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 11,237 shares of company stock worth $906,799 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

Shares of NEM stock opened at $82.55 on Friday. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $98.58. The company’s fifty day simple moving average is $82.96 and its 200-day simple moving average is $67.27. The firm has a market cap of $90.08 billion, a PE ratio of 12.82, a P/E/G ratio of 0.53 and a beta of 0.33. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

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

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Newmont’s payout ratio is currently 15.53%.

Analyst Ratings Changes

A number of brokerages have weighed in on NEM. Citigroup lifted their price target on shares of Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Macquarie lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Royal Bank Of Canada boosted their price objective on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. CIBC set a $112.00 target price on Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. Finally, National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $86.92.

About Newmont

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.