Simmons Bank Invests $295,000 in Newmont Corporation $NEM

Simmons Bank bought a new stake in Newmont Corporation (NYSE:NEM) during the second quarter, HoldingsChannel.com reports. The fund bought 5,071 shares of the basic materials company’s stock, valued at approximately $295,000.

Other hedge funds have also bought and sold shares of the company. Colonial Trust Advisors increased its position in Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after buying an additional 429 shares during the last quarter. Concord Wealth Partners lifted its position in shares of Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares during the last quarter. Evermay Wealth Management LLC boosted its stake in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares during the period. Private Trust Co. NA boosted its stake in shares of Newmont by 122.6% during the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 347 shares during the period. Finally, TCTC Holdings LLC increased its holdings in shares of Newmont by 123.1% during the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 362 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the sale, the director owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 11,237 shares of company stock worth $906,799. 0.05% of the stock is currently owned by insiders.

Newmont Stock Performance

NYSE NEM opened at $82.55 on Friday. The firm has a 50-day moving average price of $82.96 and a two-hundred day moving average price of $67.27. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $98.58. The company has a market capitalization of $90.08 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.53 and a beta of 0.33. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. Analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio is presently 15.53%.

Analyst Ratings Changes

NEM has been the subject of several research reports. Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. BNP Paribas lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Macquarie downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Finally, Weiss Ratings upgraded shares of Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $86.92.

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.