Diversified Trust Co Invests $1.62 Million in Newmont Corporation $NEM

Key Points

• Diversified Trust Co has purchased a stake in Newmont Corporation, acquiring 27,786 shares valued at approximately $1,619,000.
• In recent analyst reports, target prices for Newmont's stock have been raised by firms including CIBC and UBS, with current average price targets ranging around $72.31.
• The company announced a quarterly dividend of $0.25 per share, yielding 1.2% annually, to be paid to shareholders on September 29th.

Diversified Trust Co bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,786 shares of the basic materials company's stock, valued at approximately $1,619,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after purchasing an additional 1,847 shares during the last quarter. State of Wyoming bought a new stake in shares of Newmont during the fourth quarter worth approximately $179,000. Woodline Partners LP acquired a new stake in Newmont during the 4th quarter worth approximately $2,545,000. Focus Partners Advisor Solutions LLC increased its position in Newmont by 68.8% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 10,248 shares of the basic materials company's stock worth $381,000 after buying an additional 4,177 shares during the period. Finally, Vise Technologies Inc. boosted its position in shares of Newmont by 69.5% in the fourth quarter. Vise Technologies Inc. now owns 16,898 shares of the basic materials company's stock valued at $629,000 after acquiring an additional 6,928 shares during the period. Institutional investors own 68.85% of the company's stock.

Newmont Stock Up 2.5%

Shares of NEM stock traded up $2.02 on Monday, reaching $83.74. 14,015,439 shares of the company were exchanged, compared to its average volume of 11,060,405. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a one year low of $36.86 and a one year high of $83.89. The company has a 50-day moving average of $69.47 and a 200-day moving average of $58.52. The company has a market cap of $91.98 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 0.96 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business's revenue was up 20.8% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. Analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is currently 17.95%.

Analysts Set New Price Targets

NEM has been the subject of a number of recent analyst reports. National Bankshares upgraded Newmont from a "sector perform" rating to an "outperform" rating in a research report on Friday, July 25th. CIBC boosted their price objective on shares of Newmont from $74.00 to $78.00 and gave the company a "neutral" rating in a research report on Friday, September 12th. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. UBS Group boosted their price target on Newmont from $70.00 to $92.00 and gave the stock a "buy" rating in a report on Friday. Finally, BNP Paribas Exane boosted their price target on Newmont from $66.00 to $92.00 and gave the stock an "outperform" rating in a report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $72.31.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total transaction of $154,923.43. Following the completion of the sale, the director owned 38,949 shares of the company's stock, valued at $2,905,205.91. The trade was a 5.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer owned 32,615 shares of the company's stock, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,246 shares of company stock valued at $1,253,559 over the last three months. Company insiders own 0.05% of the company's stock.

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.