26,380 Shares of Newmont Corporation $NEM Bought by Greenleaf Trust

Key Points

• Greenleaf Trust bought 26,380 Newmont shares worth approximately $3.04 million during the third quarter, while institutional investors collectively own 68.85% of the company.
• Newmont reported stronger-than-expected quarterly results, with EPS of $2.20 versus a $1.94 consensus estimate and revenue of $6.36 billion, up 15.2% year over year.
• The company declared a quarterly dividend of $0.26 per share, representing a $1.04 annualized payout and a 1.0% yield; analysts maintain a consensus “Moderate Buy” rating with a $137.20 price target.

Greenleaf Trust bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 26,380 shares of the basic materials company's stock, valued at approximately $3,043,000.

Other large investors have also modified their holdings of the company. Accordant Advisory Group Inc bought a new stake in shares of Newmont in the 3rd quarter valued at approximately $48,000. Hennessy Advisors Inc. acquired a new stake in shares of Newmont during the 3rd quarter valued at approximately $2,491,000. Bell Investment Advisors Inc bought a new position in Newmont during the third quarter worth $45,000. Summit Global Investments bought a new position in Newmont during the third quarter worth $5,915,000. Finally, MGO One Seven LLC acquired a new position in Newmont in the third quarter worth $4,651,000. Institutional investors own 68.85% of the company's stock.

Newmont Trading Up 2.3%

NYSE:NEM opened at $109.03 on Tuesday. The firm has a market capitalization of $113.31 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.07 and a beta of 0.51. The business has a 50 day simple moving average of $120.16 and a 200 day simple moving average of $112.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16. Newmont Corporation has a 12-month low of $78.60 and a 12-month high of $135.29.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.26. The firm had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the company earned $1.71 earnings per share. Equities research analysts predict that Newmont Corporation will post 9.11 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, November 25th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont's dividend payout ratio is currently 12.09%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Scotiabank lowered their target price on shares of Newmont from $149.00 to $148.00 and set an "outperform" rating for the company in a research note on Tuesday, October 27th. TD Securities upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. TD lifted their price target on shares of Newmont from $127.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Freedom Broker downgraded shares of Newmont from a "buy" rating to a "hold" rating and lowered their price objective for the company from $130.00 to $116.00 in a research report on Thursday, October 22nd. Finally, TD Cowen dropped their price objective on shares of Newmont from $133.00 to $131.00 in a research note on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and a consensus price target of $137.20.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the sale, the executive vice president owned 34,315 shares of the company's stock, valued at $3,939,705.15. This trade represents a 8.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $445,692.42. Following the completion of the sale, the chief executive officer owned 127,471 shares in the company, valued at approximately $14,634,945.51. This represents a 2.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,973 shares of company stock valued at $3,646,819 in the last quarter. Company insiders own 0.06% of the company's stock.

Newmont Profile

Newmont Corporation NYSE: NEM is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world's largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

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.