Newmont Co. (NYSE:NEM) Shares Acquired by Fulton Bank N.A.

Fulton Bank N.A. boosted its holdings in shares of Newmont Co. (NYSE:NEM) by 56.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,967 shares of the basic materials company’s stock after purchasing an additional 5,407 shares during the period. Fulton Bank N.A.’s holdings in Newmont were worth $627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of NEM. Manchester Capital Management LLC grew its stake in shares of Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 397 shares during the period. LRI Investments LLC purchased a new position in shares of Newmont in the 1st quarter valued at about $25,000. Heritage Wealth Advisors increased its position in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Newmont during the 1st quarter valued at approximately $35,000. Finally, Advantage Trust Co acquired a new stake in Newmont in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. BMO Capital Markets increased their price objective on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Sanford C. Bernstein decreased their price objective on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. Scotiabank increased their price objective on shares of Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Finally, National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $50.00.

Newmont Stock Down 2.6 %

Shares of Newmont stock traded down $1.25 during trading hours on Wednesday, hitting $46.35. The company had a trading volume of 2,756,876 shares, compared to its average volume of 11,177,666. The company’s 50-day moving average is $44.15 and its two-hundred day moving average is $39.37. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The company has a market cap of $53.45 billion, a P/E ratio of -17.82, a price-to-earnings-growth ratio of 0.37 and a beta of 0.47.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 EPS. Analysts anticipate that Newmont Co. will post 2.76 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio is currently -37.45%.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

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.