Newmont Co. (NYSE:NEM) Shares Sold by Farmers Trust Co.

Farmers Trust Co. lowered its position in shares of Newmont Co. (NYSE:NEM) by 32.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 113,607 shares of the basic materials company’s stock after selling 54,932 shares during the quarter. Farmers Trust Co.’s holdings in Newmont were worth $4,228,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in NEM. Avior Wealth Management LLC increased its stake 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. Hoese & Co LLP acquired a new stake in Newmont in the third quarter worth $27,000. Prospera Private Wealth LLC bought a new stake in Newmont in the 3rd quarter valued at about $28,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont during the third quarter worth approximately $32,000. Finally, Meeder Asset Management Inc. acquired a new stake in Newmont in the 2nd quarter valued at approximately $27,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other news, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This represents a 189.96 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Up 2.0 %

NYSE:NEM traded up $0.77 on Wednesday, reaching $38.93. 5,816,546 shares of the stock traded hands, compared to its average volume of 7,145,664. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $44.32 billion, a price-to-earnings ratio of -25.61, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. The company’s 50 day moving average is $41.15 and its 200-day moving average is $46.99. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue was up 84.7% compared to the same quarter last year. Equities research analysts anticipate that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.57%. Newmont’s payout ratio is presently -65.79%.

Analysts Set New Price Targets

NEM has been the subject of a number of recent analyst reports. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Royal Bank of Canada reduced their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Company Profile

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.