Newmont Co. (NYSE:NEM) Shares Purchased by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV raised its position in Newmont Co. (NYSE:NEM) by 12.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 95,346 shares of the basic materials company’s stock after acquiring an additional 10,818 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Newmont were worth $5,096,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after acquiring an additional 16,190,422 shares during the period. Van ECK Associates Corp increased its position in Newmont by 2.6% during the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after purchasing an additional 1,289,084 shares during the period. Northern Trust Corp increased its position in Newmont by 25.9% during the 4th quarter. Northern Trust Corp now owns 12,988,497 shares of the basic materials company’s stock worth $537,594,000 after purchasing an additional 2,671,774 shares during the period. Legal & General Group Plc raised its stake in shares of Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock worth $337,909,000 after buying an additional 109,084 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Newmont by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after buying an additional 545,903 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price objective on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $48.00 to $59.00 in a research note on Monday, August 19th. UBS Group raised their price objective on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. Finally, BMO Capital Markets lifted their price target on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.62.

Newmont Stock Performance

Newmont stock opened at $53.20 on Friday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $56.30. The company has a market capitalization of $61.35 billion, a price-to-earnings ratio of -19.93, a PEG ratio of 0.47 and a beta of 0.49. The stock has a fifty day moving average of $51.38 and a two-hundred day moving average of $44.74. 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 posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. On average, analysts anticipate that Newmont Co. will post 2.88 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Thursday, September 5th. Newmont’s payout ratio is -37.45%.

Insider Buying and Selling

In other Newmont news, 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 in the company, valued at approximately $15,420,830.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated 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 sale, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is owned by insiders.

About Newmont

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.