Adams Natural Resources Fund Inc. Has $9.09 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Adams Natural Resources Fund Inc. lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 1.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 170,100 shares of the basic materials company’s stock after selling 2,200 shares during the period. Newmont accounts for 1.3% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 18th largest position. Adams Natural Resources Fund Inc.’s holdings in Newmont were worth $9,092,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Fidelis Capital Partners LLC acquired a new stake in Newmont during the 3rd quarter worth $210,000. Boston Financial Mangement LLC grew its holdings in Newmont by 0.6% during the 3rd quarter. Boston Financial Mangement LLC now owns 83,980 shares of the basic materials company’s stock worth $4,489,000 after acquiring an additional 525 shares during the period. abrdn plc grew its holdings in Newmont by 35.3% during the 3rd quarter. abrdn plc now owns 1,738,741 shares of the basic materials company’s stock worth $92,840,000 after acquiring an additional 453,603 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Newmont by 14.3% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 44,165 shares of the basic materials company’s stock worth $2,361,000 after purchasing an additional 5,534 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. bought a new position in shares of Newmont during the third quarter worth $477,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock worth $3,434,640 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NEM. Veritas raised shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday. BMO Capital Markets lifted their price target on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.85.

Newmont Trading Down 1.2 %

Shares of NYSE:NEM opened at $47.80 on Wednesday. The company’s 50-day moving average price is $53.26 and its two-hundred day moving average price is $47.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The stock has a market capitalization of $54.42 billion, a PE ratio of -31.45, a price-to-earnings-growth ratio of 0.40 and a beta of 0.50.

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 the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business 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 firm earned $0.36 earnings per share. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. On average, equities analysts forecast that Newmont Co. will post 3.13 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.09%. Newmont’s dividend payout ratio is presently -65.79%.

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.