Hilltop National Bank Invests $1.47 Million in Newmont Corporation $NEM

Hilltop National Bank purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 25,259 shares of the basic materials company's stock, valued at approximately $1,472,000.

Several other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in shares of Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after purchasing an additional 1,306,783 shares during the last quarter. Northern Trust Corp boosted its holdings in Newmont by 1.5% in the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after buying an additional 191,940 shares during the period. Amundi boosted its holdings in Newmont by 2.8% in the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock worth $611,187,000 after buying an additional 343,535 shares during the period. Invesco Ltd. boosted its holdings in Newmont by 2.2% in the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock worth $518,936,000 after buying an additional 228,116 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Newmont by 15.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock worth $423,572,000 after buying an additional 1,201,237 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Up 0.5%

Shares of NYSE:NEM opened at $86.35 on Friday. The firm has a fifty day moving average price of $73.95 and a two-hundred day moving average price of $60.81. 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 $87.93. The company has a market cap of $94.85 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.96 and a beta of 0.34.

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

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Newmont's dividend payout ratio (DPR) is 17.95%.

Analyst Ratings Changes

NEM has been the subject of several analyst reports. National Bankshares reaffirmed an "outperform" rating on shares of Newmont in a report on Monday, September 22nd. Raymond James Financial raised their price objective on shares of Newmont from $77.00 to $84.00 and gave the stock an "outperform" rating in a report on Tuesday, September 23rd. BNP Paribas downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Macquarie downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Finally, The Goldman Sachs Group raised their price target on shares of Newmont from $63.10 to $77.30 and gave the company a "neutral" rating in a report on Thursday, September 11th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $73.38.

Insider Activity

In other news, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,169 shares of company stock worth $955,286. 0.05% of the stock is currently owned by corporate insiders.

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.

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