Bangor Savings Bank Decreases Stock Holdings in Newmont Co. (NYSE:NEM)

Bangor Savings Bank lessened its stake in shares of Newmont Co. (NYSE:NEM) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,125 shares of the basic materials company’s stock after selling 1,348 shares during the quarter. Bangor Savings Bank’s holdings in Newmont were worth $526,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Heathbridge Capital Management Ltd. boosted its holdings 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 worth $551,000 after purchasing an additional 200 shares during the last quarter. E. Ohman J or Asset Management AB lifted its holdings in shares of Newmont by 0.4% during the 3rd 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 buying an additional 200 shares during the period. Fulton Bank N.A. boosted its stake in shares of Newmont by 1.5% in the 3rd 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 last quarter. Carmel Capital Partners LLC grew its holdings in shares of Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after acquiring an additional 226 shares during the period. Finally, Good Life Advisors LLC increased its position in Newmont by 4.6% during the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after acquiring an additional 229 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on NEM. Royal Bank of Canada cut their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and cut their target price for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. Finally, Scotiabank cut Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Insider Activity

In other news, Director Harry M. Iv Conger purchased 9,498 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

Newmont Stock Down 1.0 %

Shares of NEM opened at $37.72 on Tuesday. The business’s 50 day moving average is $41.34 and its 200 day moving average is $47.02. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a market capitalization of $42.94 billion, a PE ratio of -24.82, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the previous year, the business earned $0.36 EPS. The company’s quarterly revenue was up 84.7% on a year-over-year basis. Research analysts expect that Newmont Co. will post 3.08 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) 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.