Farmers Trust Co. Sells 54,932 Shares of Newmont Co. (NYSE:NEM)

Farmers Trust Co. cut its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 32.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,607 shares of the basic materials company's stock after selling 54,932 shares during the quarter. Farmers Trust Co.'s holdings in Newmont were worth $4,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NEM. Strategic Financial Concepts LLC bought a new stake in shares of Newmont in the second quarter worth about $25,000. Meeder Asset Management Inc. bought a new position in shares of Newmont during the second quarter valued at approximately $27,000. Hoese & Co LLP purchased a new stake in Newmont in the third quarter worth $27,000. Avior Wealth Management LLC boosted its holdings in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 326 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in Newmont during the 3rd quarter valued at $28,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Harry M. Iv Conger bought 9,498 shares of the stock in a transaction on Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares in the company, valued at $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NEM shares. Scotiabank lowered shares of Newmont from a "sector outperform" rating to a "sector perform" rating and cut their target price for the company from $59.00 to $55.00 in a research note on Friday, October 25th. CLSA started coverage on Newmont in a report on Friday, November 29th. They set an "underperform" rating on the stock. Veritas upgraded Newmont to a "strong-buy" rating in a research note on Monday, September 30th. Bernstein Bank lifted their price target on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, CIBC lowered Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.31.

Newmont Stock Up 2.4 %

Shares of Newmont stock traded up $0.91 on Wednesday, reaching $39.07. The company's stock had a trading volume of 8,313,687 shares, compared to its average volume of 7,720,574. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The firm's fifty day simple moving average is $40.99 and its two-hundred day simple moving average is $46.94. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $44.48 billion, a price-to-earnings ratio of -25.70, a P/E/G ratio of 0.35 and a beta of 0.50.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. Newmont's quarterly revenue was up 84.7% compared to the same quarter last year. During the same period last year, the firm posted $0.36 EPS. Equities analysts anticipate that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.56%. Newmont's dividend payout ratio (DPR) is -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.