Farmers Trust Co. Sells 23,131 Shares of Newmont Corporation $NEM

Farmers Trust Co. cut its holdings in Newmont Corporation (NYSE:NEM) by 18.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 103,098 shares of the basic materials company’s stock after selling 23,131 shares during the period. Newmont accounts for 1.5% of Farmers Trust Co.’s investment portfolio, making the stock its 11th largest holding. Farmers Trust Co.’s holdings in Newmont were worth $8,692,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hemington Wealth Management boosted its holdings in shares of Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 170 shares during the period. IVC Wealth Advisors LLC boosted its stake in Newmont by 1.3% in the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after purchasing an additional 173 shares during the period. L2 Asset Management LLC grew its holdings in Newmont by 3.6% during the 2nd quarter. L2 Asset Management LLC now owns 4,987 shares of the basic materials company’s stock valued at $291,000 after buying an additional 174 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Newmont by 11.9% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after buying an additional 185 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its holdings in shares of Newmont by 4.4% in the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock worth $260,000 after buying an additional 190 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NEM. Jefferies Financial Group reaffirmed a “buy” rating and set a $120.00 price objective on shares of Newmont in a research note on Sunday, December 7th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. BNP Paribas cut shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target on the stock. in a report on Friday, December 5th. UBS Group lifted their price objective on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, Royal Bank Of Canada upped their target price on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $96.37.

Newmont Stock Performance

NYSE NEM opened at $98.21 on Monday. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $102.13. The company has a fifty day moving average of $87.86 and a 200-day moving average of $74.24. The company has a market capitalization of $107.17 billion, a P/E ratio of 15.25, a P/E/G ratio of 0.68 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. As a group, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Newmont’s payout ratio is presently 15.53%.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 11,240 shares of company stock valued at $943,985. Company insiders own 0.05% of the company’s stock.

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.