Newmont Co. (NYSE:NEM) Stock Holdings Lifted by Huntington National Bank

Huntington National Bank grew its position in shares of Newmont Co. (NYSE:NEM) by 82.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,176 shares of the basic materials company’s stock after buying an additional 4,598 shares during the quarter. Huntington National Bank’s holdings in Newmont were worth $544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd increased 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 purchasing an additional 65,075 shares during the last quarter. Red Cedar Investment Management LLC acquired a new position in Newmont during the third quarter worth $1,263,000. Bessemer Group Inc. raised its holdings in Newmont by 7.5% during the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock valued at $271,000 after buying an additional 529 shares in the last quarter. Herr Investment Group LLC acquired a new stake in shares of Newmont in the second quarter worth about $419,000. Finally, Truist Financial Corp boosted its stake in shares of Newmont by 8.1% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 0.6 %

Shares of NEM stock opened at $40.93 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a fifty day moving average of $51.11 and a 200-day moving average of $47.35. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The stock has a market cap of $46.60 billion, a price-to-earnings ratio of -26.93, a P/E/G ratio of 0.34 and a beta of 0.51.

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

Newmont Announces Dividend

The business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is -65.79%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.14.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’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 value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,000 shares of company stock valued at $2,444,440. 0.06% of the stock is currently owned by company insiders.

Newmont 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.