Wilmington Savings Fund Society FSB Purchases New Stake in Newmont Co. (NYSE:NEM)

Wilmington Savings Fund Society FSB bought a new stake in shares of Newmont Co. (NYSE:NEM) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,897 shares of the basic materials company’s stock, valued at approximately $422,000.

A number of other large investors also recently made changes to their positions in NEM. Sanctuary Advisors LLC grew its position in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after purchasing an additional 18,722 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of Newmont by 183.2% during the 3rd quarter. Virtu Financial LLC now owns 23,136 shares of the basic materials company’s stock valued at $1,237,000 after acquiring an additional 14,967 shares in the last quarter. McIlrath & Eck LLC grew its holdings in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Newmont by 27.2% during the third quarter. TD Private Client Wealth LLC now owns 3,471 shares of the basic materials company’s stock worth $186,000 after acquiring an additional 742 shares in the last quarter. Finally, Virtue Capital Management LLC acquired a new stake in Newmont during the third quarter valued at $827,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on NEM. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday, August 29th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Finally, CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.31.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry M. Iv Conger purchased 9,498 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were acquired at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the purchase, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.06% of the stock is owned by company insiders.

Newmont Trading Down 0.3 %

Newmont stock opened at $40.09 on Tuesday. The business’s 50-day simple moving average is $46.24 and its 200-day simple moving average is $47.38. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The firm has a market capitalization of $45.63 billion, a PE ratio of -26.37, a PEG ratio of 0.36 and a beta of 0.49. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. Equities research analysts forecast that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Wednesday, November 27th. Newmont’s payout ratio is presently -65.79%.

About Newmont

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.