Somerset Trust Co Buys 913 Shares of Newmont Corporation $NEM

Somerset Trust Co lifted its stake in shares of Newmont Corporation (NYSE:NEM) by 18.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,793 shares of the basic materials company’s stock after acquiring an additional 913 shares during the quarter. Somerset Trust Co’s holdings in Newmont were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in NEM. Nuveen LLC bought a new position in Newmont during the 1st quarter worth approximately $306,507,000. Pacer Advisors Inc. grew its holdings in Newmont by 4,203.5% during the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock worth $259,580,000 after acquiring an additional 5,251,616 shares during the period. Voloridge Investment Management LLC bought a new position in shares of Newmont in the 4th quarter worth about $92,693,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in Newmont by 1,074.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock worth $116,416,000 after purchasing an additional 2,206,017 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Newmont in the fourth quarter valued at approximately $75,435,000. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, August 1st. The stock was 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 $3,739,133.76. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction 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. This trade represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,246 shares of company stock valued at $1,253,559 in the last 90 days. 0.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on NEM shares. Royal Bank Of Canada raised shares of Newmont from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $66.00 to $95.00 in a research note on Wednesday. Scotiabank upped their target price on Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Monday, July 28th. Wall Street Zen upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. UBS Group raised their price objective on shares of Newmont from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. Finally, Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Four investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $67.38.

Newmont Trading Down 0.5%

Shares of NEM stock opened at $79.25 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The company has a market capitalization of $87.05 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.96 and a beta of 0.34. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $80.07. The company has a 50-day simple moving average of $67.46 and a two-hundred day simple moving average of $57.15.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.Newmont’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. Research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, September 4th. Newmont’s payout ratio is currently 17.95%.

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.