AMG National Trust Bank Buys 8,103 Shares of Newmont Corporation (NYSE:NEM)

AMG National Trust Bank grew its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,745 shares of the basic materials company's stock after buying an additional 8,103 shares during the quarter. AMG National Trust Bank's holdings in Newmont were worth $4,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Formidable Asset Management LLC lifted its stake in shares of Newmont by 1.1% during the 1st quarter. Formidable Asset Management LLC now owns 30,688 shares of the basic materials company's stock worth $1,482,000 after purchasing an additional 323 shares during the last quarter. Private Advisor Group LLC raised its position in Newmont by 9.7% in the first quarter. Private Advisor Group LLC now owns 89,104 shares of the basic materials company's stock valued at $4,302,000 after purchasing an additional 7,849 shares during the period. Nwam LLC acquired a new position in shares of Newmont in the first quarter valued at approximately $288,000. Hussman Strategic Advisors Inc. increased its holdings in shares of Newmont by 500.0% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 306,000 shares of the basic materials company's stock valued at $14,774,000 after acquiring an additional 255,000 shares during the last quarter. Finally, Carson Advisory Inc. acquired a new stake in shares of Newmont in the 1st quarter valued at about $205,000. Institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NEM. Stifel Canada raised Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. UBS Group boosted their price objective on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Argus set a $63.00 target price on Newmont in a report on Friday, April 25th. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.49.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $176,250.00. Following the completion of the transaction, the executive vice president owned 74,526 shares in the company, valued at approximately $4,378,402.50. This represents a 3.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the transaction, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,231 shares of company stock valued at $679,813. Company insiders own 0.05% of the company's stock.

Newmont Price Performance

Shares of NEM stock traded up $2.11 during trading hours on Monday, reaching $60.30. The company's stock had a trading volume of 6,582,885 shares, compared to its average volume of 10,824,977. The firm's 50 day simple moving average is $55.83 and its 200-day simple moving average is $49.80. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $61.17. The company has a market capitalization of $67.11 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.65 and a beta of 0.33. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter in the previous year, the firm posted $0.55 EPS. Sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.66%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is 22.42%.

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.