CENTRAL TRUST Co Cuts Position in Newmont Co. (NYSE:NEM)

CENTRAL TRUST Co lowered its holdings in Newmont Co. (NYSE:NEM) by 47.6% in the third quarter, Holdings Channel.com reports. The fund owned 4,098 shares of the basic materials company’s stock after selling 3,719 shares during the quarter. CENTRAL TRUST Co’s holdings in Newmont were worth $219,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in Newmont by 6,387.0% during the third quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock worth $52,377,000 after buying an additional 964,815 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of Newmont by 0.6% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 281,825 shares of the basic materials company’s stock valued at $15,064,000 after acquiring an additional 1,607 shares during the period. Greenleaf Trust boosted its stake in shares of Newmont by 3.9% during the 3rd quarter. Greenleaf Trust now owns 27,639 shares of the basic materials company’s stock worth $1,477,000 after acquiring an additional 1,030 shares in the last quarter. Eastern Bank acquired a new stake in shares of Newmont in the 3rd quarter worth approximately $202,000. Finally, Signaturefd LLC increased its stake in Newmont by 3.5% in the 3rd quarter. Signaturefd LLC now owns 23,486 shares of the basic materials company’s stock valued at $1,255,000 after purchasing an additional 802 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock valued at $3,434,640 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $48.42 on Friday. The business’s 50-day moving average price is $53.39 and its 200 day moving average price is $46.82. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a market capitalization of $55.56 billion, a PE ratio of -22.84, a price-to-earnings-growth ratio of 0.49 and a beta of 0.50.

Newmont (NYSE:NEM) last released its 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 negative net margin of 13.16% and a positive return on equity of 8.35%. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, research analysts predict that Newmont Co. will post 3.07 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.07%. Newmont’s payout ratio is -47.17%.

Analyst Ratings Changes

A number of analysts have commented on NEM shares. Jefferies Financial Group boosted their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $59.00 to $55.00 in a research note on Friday. CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and lifted their target price for the stock from $46.00 to $61.00 in a research report on Wednesday, July 10th. UBS Group increased their price target on shares of Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.85.

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.