Neville Rodie & Shaw Inc. Purchases New Holdings in Newmont Corporation $NEM

Neville Rodie & Shaw Inc. purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the third quarter, HoldingsChannel reports. The institutional investor purchased 10,893 shares of the basic materials company’s stock, valued at approximately $1,256,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ferguson Wellman Capital Management Inc. bought a new position in Newmont during the third quarter worth $226,000. MassMutual Private Wealth & Trust FSB bought a new stake in Newmont in the 3rd quarter valued at $1,590,000. CX Institutional acquired a new stake in Newmont in the 3rd quarter worth $967,000. GoalVest Advisory LLC bought a new position in shares of Newmont during the 3rd quarter worth about $28,000. Finally, Versant Capital Management Inc acquired a new position in shares of Newmont during the third quarter valued at about $570,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the topic of a number of recent research reports. Barclays decreased their target price on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. Sanford C. Bernstein lowered their price objective on Newmont from $147.00 to $144.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 9th. Canaccord Genuity Group reduced their target price on Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. UBS Group lowered their price target on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Scotiabank increased their price objective on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $134.26.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president directly owned 34,315 shares in the company, valued at $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the sale, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This represents a 28.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,973 shares of company stock valued at $3,927,169 over the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Trading Up 0.1%

NEM traded up $0.10 during mid-day trading on Monday, reaching $115.66. The stock had a trading volume of 1,331,505 shares, compared to its average volume of 8,709,704. The firm’s fifty day simple moving average is $118.56 and its two-hundred day simple moving average is $109.89. The stock has a market capitalization of $121.87 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.61 and a beta of 0.51. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the prior year, the firm posted $1.43 earnings per share. On average, equities analysts predict that Newmont Corporation will post 9.09 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont’s payout ratio is 13.13%.

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.