Newmont Co. (NYSE:NEM) Shares Acquired by Greenleaf Trust

Greenleaf Trust increased its position in shares of Newmont Co. (NYSE:NEM) by 3.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 27,639 shares of the basic materials company’s stock after buying an additional 1,030 shares during the quarter. Greenleaf Trust’s holdings in Newmont were worth $1,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in NEM. Global Assets Advisory LLC purchased a new position in Newmont during the 1st quarter worth approximately $2,899,000. Wealth Enhancement Advisory Services LLC grew its stake in Newmont by 13.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 139,631 shares of the basic materials company’s stock worth $5,004,000 after buying an additional 16,902 shares during the last quarter. 180 Wealth Advisors LLC purchased a new position in Newmont during the 1st quarter worth approximately $207,000. Buckley Wealth Management LLC grew its stake in Newmont by 2.8% during the 1st quarter. Buckley Wealth Management LLC now owns 63,715 shares of the basic materials company’s stock worth $2,284,000 after buying an additional 1,750 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Newmont during the 1st quarter worth approximately $234,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of several analyst reports. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and lifted their target price for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. Bank of America lifted their target price on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Jefferies Financial Group lifted their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. UBS Group lifted their target price on Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus target price of $53.46.

Newmont Stock Performance

Shares of NEM stock opened at $57.75 on Thursday. The stock has a fifty day moving average price of $53.43 and a 200 day moving average price of $46.74. The stock has a market cap of $66.59 billion, a PE ratio of -21.63, a P/E/G ratio of 0.43 and a beta of 0.50. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. Newmont’s revenue was up 64.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. Sell-side analysts forecast that Newmont Co. will post 3.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is owned by insiders.

Newmont Company 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.