Huntington National Bank Increases Stake in Newmont Corporation $NEM

Huntington National Bank grew its position in Newmont Corporation (NYSE:NEM) by 13.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,648 shares of the basic materials company’s stock after buying an additional 1,266 shares during the period. Huntington National Bank’s holdings in Newmont were worth $620,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NEM. Northern Trust Corp increased its position in shares of Newmont by 1.5% during the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after acquiring an additional 191,940 shares in the last quarter. Amundi boosted its stake in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after purchasing an additional 343,535 shares during the last quarter. Invesco Ltd. increased its holdings in shares of 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 purchasing an additional 228,116 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Newmont by 15.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock worth $423,572,000 after purchasing an additional 1,201,237 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Newmont by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,901,244 shares of the basic materials company’s stock valued at $333,192,000 after purchasing an additional 50,840 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of several research analyst reports. TD Securities lifted their price objective on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the company a “buy” rating in a report on Sunday, October 12th. Weiss Ratings upgraded shares of Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Finally, UBS Group lifted their target price on shares of Newmont from $92.00 to $105.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Buy” and a consensus target price of $86.92.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% 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, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $80.96, for a total value of $168,396.80. Following the sale, the director directly owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This represents a 5.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 11,237 shares of company stock worth $906,799. 0.05% of the stock is owned by insiders.

Newmont Price Performance

Shares of NYSE:NEM opened at $82.55 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $90.08 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The firm’s 50 day moving average price is $82.96 and its 200-day moving average price is $67.27. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the company earned $0.81 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. Equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

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.