CHICAGO TRUST Co NA Increases Position in Newmont Corporation $NEM

CHICAGO TRUST Co NA increased its stake in Newmont Corporation (NYSE:NEM) by 72.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,216 shares of the basic materials company’s stock after acquiring an additional 4,697 shares during the period. CHICAGO TRUST Co NA’s holdings in Newmont were worth $653,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. SOA Wealth Advisors LLC. lifted its stake in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 201 shares during the last quarter. Cloud Capital Management LLC bought a new stake in Newmont in the first quarter worth $26,000. Colonial Trust Advisors lifted its stake in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares during the last quarter. Private Trust Co. NA lifted its stake in Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 347 shares during the last quarter. Finally, Nexus Investment Management ULC bought a new stake in Newmont in the first quarter worth $31,000. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank Of Canada raised shares of Newmont from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $66.00 to $95.00 in a research note on Wednesday, September 10th. BNP Paribas downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. CIBC upped their price objective on shares of Newmont from $74.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, September 12th. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research note on Monday. Finally, Stifel Nicolaus began coverage on shares of Newmont in a research note on Wednesday, July 9th. They set a “buy” rating and a $73.00 price objective for the company. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.38.

Newmont Price Performance

NEM stock opened at $84.59 on Wednesday. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $86.62. The company has a market cap of $92.91 billion, a P/E ratio of 15.19, a PEG ratio of 0.97 and a beta of 0.34. The firm has a 50-day moving average of $70.47 and a 200 day moving average of $58.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. Newmont’s revenue was up 20.8% on a year-over-year basis. On average, sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont’s dividend payout ratio is presently 17.95%.

Insider Buying and Selling

In related news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total transaction of $154,923.43. Following the completion of the transaction, the director directly owned 38,949 shares of the company’s stock, valued at approximately $2,905,205.91. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,246 shares of company stock valued at $1,253,559 over the last three months. Corporate insiders own 0.05% of the company’s stock.

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.