10,893 Shares of Newmont Corporation $NEM Bought by Neville Rodie & Shaw Inc.

Key Points

• Neville Rodie & Shaw acquired 10,893 Newmont shares during the third quarter, valued at approximately $1.26 million. Institutional investors and hedge funds own 68.85% of Newmont’s outstanding stock.
• Newmont shares recently traded at $115.66, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $134.26.
• The company reported quarterly EPS of $2.10, exceeding expectations, and continues to pay a quarterly dividend of $0.26, equivalent to a 0.9% annualized yield.

Neville Rodie & Shaw Inc. bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,893 shares of the basic materials company's stock, valued at approximately $1,256,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ferguson Wellman Capital Management Inc. acquired a new stake in Newmont during the third quarter valued at approximately $226,000. MassMutual Private Wealth & Trust FSB bought a new position in shares of Newmont in the third quarter valued at $1,590,000. CX Institutional bought a new position in shares of Newmont in the third quarter valued at $967,000. GoalVest Advisory LLC acquired a new stake in shares of Newmont during the 3rd quarter valued at $28,000. Finally, Versant Capital Management Inc bought a new stake in shares of Newmont during the 3rd quarter worth $570,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Up 0.1%

Shares of NYSE NEM traded up $0.10 during mid-day trading on Monday, reaching $115.66. The company had a trading volume of 1,331,505 shares, compared to its average volume of 8,709,704. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The company has a market capitalization of $121.87 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.61 and a beta of 0.51. The stock has a fifty day moving average of $118.56 and a two-hundred day moving average of $109.89. Newmont Corporation has a 12-month low of $76.05 and a 12-month high of $135.29.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same period last year, the company earned $1.43 earnings per share. As a group, equities research analysts expect that Newmont Corporation will post 9.09 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were issued a $0.26 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont's dividend payout ratio is currently 13.13%.

Insider Buying and Selling

In related news, CFO Brian Tabolt sold 11,445 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the sale, the executive vice president owned 34,315 shares of the company's stock, valued at approximately $3,939,705.15. This trade represents a 8.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 35,973 shares of company stock worth $3,927,169. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Bank of America cut their target price on Newmont from $157.00 to $132.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. National Bank Financial boosted their price objective on Newmont from $120.00 to $140.00 and gave the stock a "sector perform" rating in a report on Monday, September 21st. TD Securities upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Scotiabank lifted their target price on shares of Newmont from $147.00 to $149.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Finally, Zacks Research lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.26.

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company's activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.