Farmers Trust Co. Lowers Holdings in Newmont Co. (NYSE:NEM)

Farmers Trust Co. cut its stake in shares of Newmont Co. (NYSE:NEM) by 32.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

Several other large investors have also bought and sold shares of NEM. Heathbridge Capital Management Ltd. lifted its position in Newmont by 2.0% in the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after buying an additional 200 shares during the last quarter. E. Ohman J or Asset Management AB raised its position in Newmont by 0.4% in the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after purchasing an additional 200 shares during the period. Fulton Bank N.A. boosted its position in shares of Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after buying an additional 221 shares during the period. Carmel Capital Partners LLC grew its position in Newmont by 4.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 226 shares in the last quarter. Finally, Good Life Advisors LLC lifted its position in shares of Newmont by 4.6% during the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 229 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Harry M. Iv Conger acquired 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the purchase, the director now directly owns 14,498 shares in the company, valued at $611,090.70. The trade was 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. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NYSE:NEM traded up $0.77 during midday trading on Wednesday, reaching $38.93. The stock had a trading volume of 5,816,546 shares, compared to its average volume of 7,145,664. The stock has a market cap of $44.32 billion, a P/E ratio of -25.61, a P/E/G ratio of 0.35 and a beta of 0.50. The firm has a fifty day simple moving average of $41.15 and a two-hundred day simple moving average of $46.99. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, equities analysts expect that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.57%. Newmont’s dividend payout ratio (DPR) is -65.79%.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent research reports. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Raymond James decreased their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $59.00 to $55.00 in a research report on Friday, October 25th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, Veritas upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $54.31.

Newmont 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.