Providence First Trust Co Invests $70,000 in Newmont Co. (NYSE:NEM)

Providence First Trust Co acquired a new stake in shares of Newmont Co. (NYSE:NEM) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,875 shares of the basic materials company’s stock, valued at approximately $70,000.

A number of other institutional investors have also made changes to their positions in the stock. Avior Wealth Management LLC grew its holdings in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Newmont during the 3rd quarter worth $28,000. HHM Wealth Advisors LLC boosted its holdings in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after buying an additional 350 shares during the period. McIlrath & Eck LLC grew its stake in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after buying an additional 361 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in Newmont in the 4th quarter worth $43,000. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock worth $1,166,843 over the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Bernstein Bank raised their target price on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. CLSA started coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating on the stock. Raymond James reduced their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Finally, Scotiabank dropped their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $53.16.

Newmont Price Performance

NYSE:NEM opened at $42.83 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company has a 50-day moving average of $42.01 and a 200-day moving average of $46.30. Newmont Co. has a 52 week low of $30.93 and a 52 week high of $58.72. The company has a market capitalization of $48.26 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, equities research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is 34.13%.

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.