Newmont Co. (NYSE:NEM) Stock Position Lessened by Hickory Point Bank & Trust

Hickory Point Bank & Trust decreased its holdings in Newmont Co. (NYSE:NEM - Free Report) by 45.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,924 shares of the basic materials company's stock after selling 10,126 shares during the quarter. Hickory Point Bank & Trust's holdings in Newmont were worth $576,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Van ECK Associates Corp grew its stake in shares of Newmont by 1.6% in the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock worth $1,851,606,000 after purchasing an additional 797,445 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Newmont by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after purchasing an additional 1,213,397 shares in the last quarter. Norges Bank bought a new position in shares of Newmont in the fourth quarter worth $626,074,000. Northern Trust Corp grew its stake in shares of Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock worth $474,263,000 after purchasing an additional 1,309,177 shares in the last quarter. Finally, Amundi grew its stake in shares of Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after purchasing an additional 1,507,708 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Down 3.9%

Shares of Newmont stock opened at $52.36 on Friday. The stock has a 50-day moving average price of $52.16 and a 200 day moving average price of $45.99. The company has a market cap of $58.28 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.41 and a beta of 0.31. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 1 year low of $36.86 and a 1 year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the firm posted $0.55 EPS. As a group, analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, May 27th. Newmont's payout ratio is currently 22.42%.

Analyst Ratings Changes

NEM has been the subject of several research reports. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and raised their target price for the company from $50.00 to $60.00 in a research note on Friday, April 11th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. Cfra Research raised Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Argus set a $63.00 target price on Newmont in a report on Friday, April 25th. Finally, Royal Bank of Canada upped their target price on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $57.68.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $51.48, for a total value of $106,923.96. Following the transaction, the director now directly owns 47,257 shares of the company's stock, valued at $2,432,790.36. This represents a 4.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president now directly owns 77,526 shares in the company, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock valued at $381,539 in the last three months. 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.

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