Cetera Trust Company N.A Makes New Investment in Newmont Co. (NYSE:NEM)

Cetera Trust Company N.A acquired a new position in shares of Newmont Co. (NYSE:NEM - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,188 shares of the basic materials company's stock, valued at approximately $705,000.

A number of other large investors have also recently made changes to their positions in the company. Whittier Trust Co. increased its stake in Newmont by 3.0% in the third quarter. Whittier Trust Co. now owns 15,040 shares of the basic materials company's stock valued at $804,000 after purchasing an additional 435 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Newmont in the third quarter valued at $48,000. Robinson Value Management Ltd. grew its holdings in shares of Newmont by 75.3% during the third quarter. Robinson Value Management Ltd. now owns 108,797 shares of the basic materials company's stock worth $5,815,000 after purchasing an additional 46,717 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Newmont by 8.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 512,789 shares of the basic materials company's stock worth $27,409,000 after purchasing an additional 39,045 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Newmont by 83.6% in the 3rd quarter. Blue Trust Inc. now owns 18,797 shares of the basic materials company's stock valued at $1,005,000 after purchasing an additional 8,560 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of Newmont stock traded up $1.11 during trading on Tuesday, reaching $58.68. The company's stock had a trading volume of 7,374,373 shares, compared to its average volume of 10,140,715. The business has a 50 day moving average price of $53.25 and a 200-day moving average price of $46.67. The company has a market capitalization of $67.67 billion, a P/E ratio of -21.98, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.13 billion. During the same period in the prior year, the company posted $0.33 EPS. The business's revenue for the quarter was up 64.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Newmont Co. will post 3.1 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.70%. Newmont's payout ratio is -37.45%.

Insider Transactions at Newmont

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Bank of America boosted their price objective on Newmont from $49.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, June 26th. CIBC upgraded shares of Newmont from a "neutral" rating to a "sector outperform" rating and upped their price target for the company from $46.00 to $61.00 in a research report on Wednesday, July 10th. Scotiabank raised shares of Newmont from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the stock from $48.00 to $59.00 in a research report on Monday, August 19th. Jefferies Financial Group upped their target price on shares of Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a report on Friday, October 4th. Finally, UBS Group raised their price target on Newmont from $65.00 to $67.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Newmont presently has an average rating of "Moderate Buy" and a consensus target price of $53.46.

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.