Fruth Investment Management Sells 300 Shares of Newmont Co. (NYSE:NEM)

Fruth Investment Management decreased its position in Newmont Co. (NYSE:NEM) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,399 shares of the basic materials company’s stock after selling 300 shares during the quarter. Fruth Investment Management’s holdings in Newmont were worth $1,760,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Contravisory Investment Management Inc. acquired a new position in shares of Newmont during the third quarter worth approximately $26,000. Hexagon Capital Partners LLC bought a new stake in Newmont in the third quarter valued at $32,000. Clearstead Advisors LLC bought a new stake in Newmont in the third quarter valued at $33,000. Harbor Investment Advisory LLC grew its position in Newmont by 1,773.2% in the third quarter. Harbor Investment Advisory LLC now owns 768 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 727 shares during the period. Finally, Freestone Capital Holdings LLC bought a new stake in Newmont in the third quarter valued at $57,000. 75.69% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on the company. Raymond James upped their price target on Newmont from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 9th. BidaskClub upgraded Newmont from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 7th. TD Securities increased their target price on Newmont from $85.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, December 9th. Zacks Investment Research cut Newmont from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a report on Wednesday, November 25th. Finally, National Bank Financial restated an “outperform” rating on shares of Newmont in a report on Monday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. Newmont has an average rating of “Buy” and a consensus price target of $72.51.

NYSE:NEM traded down $0.26 during mid-day trading on Wednesday, hitting $62.23. The company had a trading volume of 395,673 shares, compared to its average volume of 7,012,408. Newmont Co. has a fifty-two week low of $33.00 and a fifty-two week high of $72.22. The business’s fifty day moving average is $60.28 and its two-hundred day moving average is $63.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.47 and a current ratio of 2.83. The firm has a market cap of $49.99 billion, a P/E ratio of 19.75 and a beta of 0.15.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 29th. The basic materials company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.07. Newmont had a return on equity of 7.37% and a net margin of 23.19%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts forecast that Newmont Co. will post 2.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, December 28th. Shareholders of record on Friday, December 11th were paid a $0.40 dividend. This is a positive change from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, December 10th. This represents a $1.60 annualized dividend and a yield of 2.57%. Newmont’s dividend payout ratio is presently 121.21%.

In other Newmont news, CAO John Kitlen sold 2,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $63.25, for a total value of $126,500.00. Following the transaction, the chief accounting officer now owns 35,742 shares of the company’s stock, valued at $2,260,681.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP E Randall Engel sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $64.31, for a total value of $321,550.00. Following the sale, the executive vice president now directly owns 274,341 shares in the company, valued at approximately $17,642,869.71. The disclosure for this sale can be found here. Insiders sold 42,815 shares of company stock worth $2,641,618 in the last three months. Insiders own 0.28% of the company’s stock.

About Newmont

Newmont Corporation engages in the production and exploration of gold, 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, and Ghana. As of December 31, 2019, it had proven and probable gold reserves of 100.2 million ounces and land position of 68,300 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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