Patriot Financial Group Insurance Agency LLC Acquires 5,534 Shares of Newmont Co. (NYSE:NEM)

Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Newmont Co. (NYSE:NEM) by 14.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 44,165 shares of the basic materials company’s stock after acquiring an additional 5,534 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Newmont were worth $2,361,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its position in Newmont by 7.5% during the 1st quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock worth $271,000 after buying an additional 529 shares in the last quarter. Herr Investment Group LLC bought a new stake in Newmont during the second quarter worth about $419,000. Truist Financial Corp boosted its position in Newmont by 8.1% during the second quarter. Truist Financial Corp now owns 150,352 shares of the basic materials company’s stock valued at $6,295,000 after purchasing an additional 11,276 shares during the last quarter. Cetera Trust Company N.A bought a new position in Newmont in the third quarter valued at approximately $705,000. Finally, Primoris Wealth Advisors LLC acquired a new position in shares of Newmont during the 2nd quarter worth approximately $607,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday. Jefferies Financial Group increased their target price on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $59.00 to $55.00 in a research report on Friday. Finally, UBS Group increased their price target on Newmont from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.85.

Newmont Trading Up 0.2 %

Shares of Newmont stock traded up $0.09 during midday trading on Monday, reaching $48.51. The company had a trading volume of 5,123,742 shares, compared to its average volume of 10,337,245. The firm has a market cap of $55.94 billion, a PE ratio of -18.13, a P/E/G ratio of 0.49 and a beta of 0.50. The stock has a fifty day moving average price of $53.39 and a 200 day moving average price of $46.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

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). Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period last year, the company posted $0.36 EPS. The business’s revenue was up 84.7% compared to the same quarter last year. On average, equities analysts anticipate that Newmont Co. will post 3.07 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.06%. Newmont’s payout ratio is currently -37.45%.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 owns 94,596 shares in the company, valued at approximately $4,963,452.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is currently 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.