CHICAGO TRUST Co NA Acquires 15,038 Shares of Newmont Corporation $NEM

CHICAGO TRUST Co NA boosted its holdings in shares of Newmont Corporation (NYSE:NEM) by 134.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,254 shares of the basic materials company’s stock after acquiring an additional 15,038 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Newmont were worth $2,213,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Concord Wealth Partners grew its stake 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 worth $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC lifted its holdings in 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 buying an additional 400 shares during the period. Capital A Wealth Management LLC grew its position in shares of Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after buying an additional 478 shares during the last quarter. Caldwell Trust Co acquired a new stake in shares of Newmont in the second quarter valued at about $31,000. Finally, Country Trust Bank bought a new position in shares of Newmont during the second quarter worth about $32,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Up 2.2%

Shares of NYSE NEM opened at $101.52 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm has a market cap of $110.78 billion, a PE ratio of 15.76, a P/E/G ratio of 0.70 and a beta of 0.41. The company’s fifty day simple moving average is $89.13 and its 200 day simple moving average is $75.69. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $102.36.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. As a group, sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio is presently 15.53%.

Insider Buying and Selling

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of 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. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,240 shares of company stock valued at $943,985 in the last three months. Insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NEM. UBS Group upped their target price on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a report on Monday, December 1st. Argus upped their price objective on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. BNP Paribas downgraded shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a research note on Friday, December 5th. National Bankshares upped their price target on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Finally, Macquarie upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Buy” and an average price target of $96.37.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.