Newmont Co. (NYSE:NEM) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lowered its position in Newmont Co. (NYSE:NEM) by 24.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,470 shares of the basic materials company’s stock after selling 3,718 shares during the period. Fulton Bank N.A.’s holdings in Newmont were worth $427,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Heathbridge Capital Management Ltd. increased its stake in Newmont by 2.0% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after buying an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB lifted its holdings in Newmont by 0.4% in 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 purchasing an additional 200 shares in the last quarter. Carmel Capital Partners LLC boosted its stake in Newmont by 4.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after purchasing an additional 226 shares during the last quarter. Good Life Advisors LLC boosted its stake in Newmont by 4.6% during the 3rd 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 during the last quarter. Finally, Pekin Hardy Strauss Inc. raised its position in shares of Newmont by 0.4% in the second quarter. Pekin Hardy Strauss Inc. now owns 64,082 shares of the basic materials company’s stock valued at $2,683,000 after buying an additional 233 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Down 0.1 %

Shares of NYSE NEM opened at $39.09 on Friday. The stock has a fifty day simple moving average of $40.74 and a 200-day simple moving average of $46.86. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. 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 stock has a market capitalization of $44.50 billion, a PE ratio of -25.72, a PEG ratio of 0.35 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $4.67 billion. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, equities analysts forecast that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.56%. Newmont’s dividend payout ratio is presently -65.79%.

Insiders Place Their Bets

In related news, Director Harry M. Iv Conger bought 9,498 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. CLSA began coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Royal Bank of Canada dropped their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.