AMG National Trust Bank Purchases 1,287 Shares of Newmont Co. (NYSE:NEM)

AMG National Trust Bank increased its position in Newmont Co. (NYSE:NEM) by 1.3% during the third quarter, Holdings Channel reports. The firm owned 99,375 shares of the basic materials company’s stock after buying an additional 1,287 shares during the quarter. AMG National Trust Bank’s holdings in Newmont were worth $5,312,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NEM. Waverton Investment Management Ltd boosted its stake in shares of Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after acquiring an additional 65,075 shares during the period. Red Cedar Investment Management LLC acquired a new position in shares of Newmont in the third quarter valued at $1,263,000. Bessemer Group Inc. boosted its holdings in shares of Newmont by 7.5% during the 1st quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock worth $271,000 after buying an additional 529 shares during the period. Herr Investment Group LLC bought a new position in Newmont in the 2nd quarter valued at about $419,000. Finally, Truist Financial Corp boosted its holdings in shares of Newmont by 8.1% during the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock worth $6,295,000 after acquiring an additional 11,276 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the completion of the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NEM shares. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. BMO Capital Markets upped their price target on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Jefferies Financial Group lifted their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, August 29th. Finally, Bernstein Bank boosted their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $54.14.

Newmont Stock Up 0.6 %

NEM stock opened at $40.93 on Monday. The stock has a market capitalization of $46.60 billion, a P/E ratio of -26.93, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $51.11 and a 200-day moving average price of $47.44. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the business earned $0.36 EPS. The business’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, equities research analysts anticipate that Newmont Co. will post 3.15 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.44%. Newmont’s dividend payout ratio is presently -65.79%.

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.