Greenleaf Trust Buys 2,190 Shares of Newmont Corporation $NEM

Greenleaf Trust increased its stake in shares of Newmont Corporation (NYSE:NEM) by 9.2% in the second quarter, Holdings Channel reports. The firm owned 25,901 shares of the basic materials company’s stock after buying an additional 2,190 shares during the quarter. Greenleaf Trust’s holdings in Newmont were worth $1,509,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NEM. Brighton Jones LLC boosted its stake in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 1,847 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Newmont by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 181,110 shares of the basic materials company’s stock valued at $6,741,000 after buying an additional 2,877 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Newmont by 37.7% in the 1st quarter. Parallel Advisors LLC now owns 7,135 shares of the basic materials company’s stock valued at $344,000 after buying an additional 1,952 shares in the last quarter. NBC Securities Inc. raised its stake in Newmont by 108,025.0% during the 1st quarter. NBC Securities Inc. now owns 4,325 shares of the basic materials company’s stock worth $208,000 after buying an additional 4,321 shares during the period. Finally, Merit Financial Group LLC lifted its holdings in Newmont by 107.8% during the first quarter. Merit Financial Group LLC now owns 16,998 shares of the basic materials company’s stock worth $821,000 after acquiring an additional 8,817 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares of the company’s stock, valued at approximately $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the transaction, the executive vice president directly owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,169 shares of company stock valued at $955,286. 0.05% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on NEM. Scotiabank boosted their price objective on Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a research report on Monday, July 28th. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. The Goldman Sachs Group increased their target price on Newmont from $63.10 to $77.30 and gave the stock a “neutral” rating in a report on Thursday, September 11th. Finally, UBS Group boosted their price target on Newmont from $70.00 to $92.00 and gave the company a “buy” rating in a report on Friday, September 19th. Three 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 given a Sell rating to the company. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $73.38.

Newmont Stock Up 1.9%

Shares of NEM stock opened at $85.95 on Thursday. The firm’s fifty day moving average price is $73.46 and its two-hundred day moving average price is $60.55. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $87.93. The firm has a market capitalization of $94.41 billion, a P/E ratio of 15.43, a PEG ratio of 0.94 and a beta of 0.34.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. On average, equities analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont’s payout ratio is presently 17.95%.

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.