CENTRAL TRUST Co Reduces Holdings in Newmont Co. (NYSE:NEM)

CENTRAL TRUST Co lessened its position in shares of Newmont Co. (NYSE:NEM) by 47.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm 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.

A number of other large investors have also recently added to or reduced their stakes in NEM. Vanguard Group Inc. lifted its stake in shares of Newmont by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after purchasing an additional 16,190,422 shares during the last quarter. Van ECK Associates Corp lifted its position in Newmont by 2.6% in the second quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after buying an additional 1,289,084 shares during the last quarter. Legal & General Group Plc boosted its stake in Newmont by 1.4% during the second quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock worth $337,909,000 after buying an additional 109,084 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after acquiring an additional 545,903 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Newmont by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock valued at $175,872,000 after acquiring an additional 313,736 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’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 of the company’s stock, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The stock was 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 $15,420,830.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,000 shares of company stock valued at $3,434,640. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Raymond James increased their price objective on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and lifted their price objective for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. Royal Bank of Canada decreased their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday. UBS Group boosted their price target on shares of Newmont from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Veritas upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.85.

Newmont Stock Performance

NYSE NEM opened at $48.42 on Friday. The company has a fifty day moving average of $53.39 and a two-hundred day moving average of $46.82. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a market capitalization of $55.56 billion, a PE ratio of -22.84, a P/E/G ratio of 0.49 and a beta of 0.50.

Newmont (NYSE:NEM) last announced 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). The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. As a group, analysts expect that Newmont Co. will post 3.07 earnings per share for the current year.

Newmont Dividend Announcement

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

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.