Hilltop National Bank Decreases Holdings in Newmont Corporation $NEM

Hilltop National Bank reduced its stake in Newmont Corporation (NYSE:NEM) by 49.6% in the 3rd quarter, Holdings Channel reports. The firm owned 12,738 shares of the basic materials company’s stock after selling 12,521 shares during the quarter. Hilltop National Bank’s holdings in Newmont were worth $1,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NEM. NatWest Group plc acquired a new stake in shares of Newmont in the third quarter valued at about $9,539,000. Cox Capital Mgt LLC boosted its holdings in Newmont by 1.4% in the 3rd quarter. Cox Capital Mgt LLC now owns 62,441 shares of the basic materials company’s stock worth $5,264,000 after acquiring an additional 839 shares during the period. OLD Point Trust & Financial Services N A boosted its holdings in Newmont by 6,600.0% in the 3rd quarter. OLD Point Trust & Financial Services N A now owns 6,700 shares of the basic materials company’s stock worth $565,000 after acquiring an additional 6,600 shares during the period. Wedmont Private Capital grew its position in Newmont by 15.4% in the third quarter. Wedmont Private Capital now owns 63,832 shares of the basic materials company’s stock valued at $5,550,000 after acquiring an additional 8,520 shares in the last quarter. Finally, Czech National Bank raised its stake in shares of Newmont by 2.6% during the third quarter. Czech National Bank now owns 278,984 shares of the basic materials company’s stock valued at $23,521,000 after purchasing an additional 6,952 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,240 shares of company stock valued at $943,985 over the last quarter. Company insiders own 0.05% of the company’s stock.

Newmont Price Performance

NEM opened at $99.32 on Friday. The company has a market capitalization of $108.39 billion, a P/E ratio of 15.42, a PEG ratio of 0.69 and a beta of 0.41. The company has a 50-day moving average of $88.80 and a 200-day moving average of $75.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $102.13.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. Equities analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be given a $0.25 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NEM. Bank of America raised their price target on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. BNP Paribas downgraded Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a research note on Friday, December 5th. Macquarie upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. Finally, Jefferies Financial Group restated a “buy” rating and set a $120.00 price objective on shares of Newmont in a research note on Sunday, December 7th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Newmont currently has a consensus rating of “Buy” and a consensus price target of $96.37.

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.