Fruth Investment Management Cuts Stock Position in Newmont Co. (NYSE:NEM)

Fruth Investment Management trimmed its position in shares of Newmont Co. (NYSE:NEM) by 1.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,599 shares of the basic materials company’s stock after selling 400 shares during the quarter. Fruth Investment Management’s holdings in Newmont were worth $1,635,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NEM. Syon Capital LLC purchased a new position in shares of Newmont during the fourth quarter worth approximately $549,000. American International Group Inc. raised its position in Newmont by 24.8% in the 4th quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock worth $12,116,000 after purchasing an additional 58,217 shares during the period. Wellington Management Group LLP lifted its stake in Newmont by 4.8% in the fourth quarter. Wellington Management Group LLP now owns 1,033,197 shares of the basic materials company’s stock worth $42,764,000 after purchasing an additional 47,597 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Newmont by 5.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 102,111 shares of the basic materials company’s stock valued at $4,226,000 after buying an additional 4,880 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Newmont by 26.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 125,032 shares of the basic materials company’s stock valued at $5,175,000 after buying an additional 25,871 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. This trade represents a 0.00 % 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. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. The trade was a 0.00 % 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 firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Up 1.0 %

NEM stock opened at $54.82 on Tuesday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $56.30. The company has a market capitalization of $63.22 billion, a price-to-earnings ratio of -20.53, a price-to-earnings-growth ratio of 0.43 and a beta of 0.50. The business’s 50 day moving average price is $52.15 and its two-hundred day moving average price is $45.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the company earned $0.33 earnings per share. The firm’s quarterly revenue was up 64.1% compared to the same quarter last year. As a group, analysts forecast that Newmont Co. will post 3.1 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Thursday, September 5th. Newmont’s payout ratio is currently -37.45%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NEM. BMO Capital Markets increased their target price on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. UBS Group upped their price target on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $48.00 to $59.00 in a report on Monday, August 19th. Finally, Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.31.

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.