4,880 Shares in Newmont Co. (NYSE:NEM) Acquired by Somerset Trust Co

Somerset Trust Co acquired a new position in Newmont Co. (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,880 shares of the basic materials company's stock, valued at approximately $236,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in 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 valued at $1,851,606,000 after acquiring an additional 797,445 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 valued at $919,484,000 after acquiring an additional 1,213,397 shares during the last quarter. Norges Bank bought a new position in Newmont in the fourth quarter valued at $626,074,000. Northern Trust Corp increased its stake in Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after acquiring an additional 1,309,177 shares during the last quarter. Finally, Amundi increased its stake in Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after acquiring an additional 1,507,708 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $112,344.93. Following the completion of the transaction, the director now directly owns 45,180 shares in the company, valued at approximately $2,443,786.20. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president now owns 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,154 shares of company stock worth $381,539. Insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Royal Bank of Canada raised their price objective on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. Finally, Raymond James reaffirmed an "outperform" rating and set a $66.00 price objective on shares of Newmont in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.68.

Newmont Stock Down 1.5%

Newmont stock traded down $0.82 during trading hours on Thursday, hitting $54.46. 13,469,457 shares of the stock traded hands, compared to its average volume of 10,219,940. The firm's 50-day moving average price is $52.08 and its two-hundred day moving average price is $45.91. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a market cap of $60.61 billion, a PE ratio of 18.59, a PEG ratio of 0.41 and a beta of 0.31. Newmont Co. has a one year low of $36.86 and a one year high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same period in the previous year, the firm posted $0.55 EPS. On average, research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. Newmont's payout ratio is 22.42%.

Newmont 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.