8,612 Shares of Newmont Corporation $NEM Acquired by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. purchased a new stake in Newmont Corporation (NYSE:NEM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,612 shares of the basic materials company’s stock, valued at approximately $993,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. Triumph Capital Management bought a new stake in Newmont in the third quarter valued at approximately $1,032,000. Adirondack Trust Co. acquired a new stake in Newmont during the 3rd quarter valued at approximately $161,000. Seelaus Asset Management LLC acquired a new stake in Newmont during the 3rd quarter valued at approximately $524,000. Generate Investment Management Ltd bought a new position in Newmont during the 3rd quarter worth approximately $17,301,000. Finally, Koa Wealth Management LLC bought a new position in Newmont during the 3rd quarter worth approximately $4,432,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the transaction, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. The trade was a 8.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 35,973 shares of company stock worth $3,927,169. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent analyst reports. National Bank Financial boosted their price target on shares of Newmont from $120.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Monday, September 21st. The Goldman Sachs Group decreased their price objective on shares of Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research report on Wednesday, July 1st. UBS Group lowered their target price on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Citigroup dropped their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Finally, Sanford C. Bernstein cut their price target on shares of Newmont from $147.00 to $144.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.26.

Newmont Trading Down 3.7%

Shares of Newmont stock opened at $111.37 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29. The stock has a 50 day moving average price of $121.75 and a two-hundred day moving average price of $110.69. The stock has a market capitalization of $117.35 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 2.14 and a beta of 0.51.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. As a group, equities analysts anticipate that Newmont Corporation will post 9.05 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were given a $0.26 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.