Citizens Financial Group Inc. RI Increases Stock Holdings in Newmont Co. (NYSE:NEM)

Citizens Financial Group Inc. RI grew its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 905.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,023 shares of the basic materials company's stock after buying an additional 116,194 shares during the period. Citizens Financial Group Inc. RI's holdings in Newmont were worth $6,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Waverton Investment Management Ltd raised its position in shares of Newmont by 14.0% during the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company's stock valued at $28,379,000 after buying an additional 65,075 shares during the last quarter. Red Cedar Investment Management LLC bought a new stake in Newmont in the third quarter worth $1,263,000. Bessemer Group Inc. increased its position in Newmont by 7.5% in the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company's stock worth $271,000 after purchasing an additional 529 shares during the last quarter. Herr Investment Group LLC bought a new stake in Newmont in the second quarter worth $419,000. Finally, Truist Financial Corp increased its position in Newmont by 8.1% in the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company's stock worth $6,295,000 after purchasing an additional 11,276 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Up 0.1 %

Shares of NEM traded up $0.05 during mid-day trading on Friday, hitting $43.37. 8,033,912 shares of the company traded hands, compared to its average volume of 10,516,613. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $49.37 billion, a PE ratio of -28.45, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51. The business has a 50 day moving average of $50.43 and a 200 day moving average of $47.41.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the company earned $0.36 EPS. The business's revenue was up 84.7% compared to the same quarter last year. Equities research analysts anticipate that Newmont Co. will post 3.12 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.31%. Newmont's dividend payout ratio (DPR) is presently -65.79%.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares in the company, valued at approximately $15,293,378.43. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NEM has been the topic of several research reports. UBS Group cut shares of Newmont from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Cibc World Mkts cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. BMO Capital Markets boosted their price target on shares of Newmont from $56.00 to $57.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Jefferies Financial Group lifted their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. Finally, Veritas raised shares of Newmont to a "strong-buy" rating in a research note on Monday, September 30th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Newmont has an average rating of "Moderate Buy" and an average price target of $54.85.

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.