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Private Trust Co. NA Sells 242 Shares of Newmont Co. (NYSE:NEM)

Private Trust Co. NA cut its position in Newmont Co. (NYSE:NEM – Get Rating) by 20.9% in the third quarter, HoldingsChannel.com reports. The firm owned 916 shares of the basic materials company’s stock after selling 242 shares during the period. Private Trust Co. NA’s holdings in Newmont were worth $38,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NEM. Wealth Alliance Advisory Group LLC grew its stake in shares of Newmont by 5.1% during the second quarter. Wealth Alliance Advisory Group LLC now owns 3,460 shares of the basic materials company’s stock worth $206,000 after acquiring an additional 169 shares during the last quarter. Mcrae Capital Management Inc. grew its stake in shares of Newmont by 3.7% during the second quarter. Mcrae Capital Management Inc. now owns 5,600 shares of the basic materials company’s stock worth $334,000 after acquiring an additional 200 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Newmont by 15.6% during the second quarter. Parkside Financial Bank & Trust now owns 1,565 shares of the basic materials company’s stock worth $93,000 after acquiring an additional 211 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Newmont by 0.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 41,958 shares of the basic materials company’s stock worth $2,504,000 after acquiring an additional 214 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its stake in shares of Newmont by 9.9% during the second quarter. AdvisorNet Financial Inc now owns 2,391 shares of the basic materials company’s stock worth $143,000 after acquiring an additional 215 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Newmont Trading Down 0.3 %

Shares of NEM stock opened at $47.20 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 2.29. The company has a market cap of $37.46 billion, a price-to-earnings ratio of 37.46 and a beta of 0.27. The stock has a 50 day simple moving average of $45.54 and a 200-day simple moving average of $47.04. Newmont Co. has a 1-year low of $37.45 and a 1-year high of $86.37.

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Newmont (NYSE:NEM – Get Rating) last announced its earnings results on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.02). The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.79 billion. Newmont had a return on equity of 8.07% and a net margin of 8.28%. On average, equities research analysts expect that Newmont Co. will post 1.79 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Thursday, December 8th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 4.66%. The ex-dividend date was Wednesday, December 7th. Newmont’s dividend payout ratio is currently 174.60%.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, September 12th. They set a “buy” rating and a $53.00 price target on the stock. TD Securities dropped their target price on Newmont from $49.00 to $47.00 and set a “hold” rating on the stock in a research report on Wednesday, November 2nd. Eight Capital dropped their target price on Newmont to $58.00 in a research report on Thursday, October 27th. Credit Suisse Group upped their target price on Newmont to $54.00 in a research report on Monday, November 21st. Finally, Fundamental Research restated a “buy” rating and issued a $52.00 price objective (down previously from $63.91) on shares of Newmont in a research report on Tuesday, November 15th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.56.

Insider Activity at Newmont

In related news, insider Mark Casper sold 4,890 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $41.98, for a total value of $205,282.20. Following the completion of the transaction, the insider now directly owns 18,217 shares of the company’s stock, valued at approximately $764,749.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Newmont news, insider Mark Casper sold 4,890 shares of the company’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $41.98, for a total value of $205,282.20. Following the completion of the sale, the insider now directly owns 18,217 shares in the company, valued at approximately $764,749.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $43.02, for a total value of $473,220.00. Following the completion of the sale, the chief executive officer now owns 221,949 shares of the company’s stock, valued at $9,548,245.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,890 shares of company stock valued at $1,485,442. 0.11% of the stock is owned by insiders.

Newmont Company Profile

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

Further Reading

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Co. (NYSE:NEM – Get Rating).

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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