Central Pacific Bank Trust Division Has $186,000 Stock Holdings in Newmont Co. (NYSE:NEM)

Central Pacific Bank Trust Division reduced its position in shares of Newmont Co. (NYSE:NEM) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the basic materials company’s stock after selling 519 shares during the period. Central Pacific Bank Trust Division’s holdings in Newmont were worth $186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEM. Strategic Financial Concepts LLC bought a new stake in Newmont during the second quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in Newmont in the 2nd quarter worth approximately $27,000. Hoese & Co LLP acquired a new position in shares of Newmont during the third quarter worth approximately $27,000. Avior Wealth Management LLC grew its stake in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Newmont during the third quarter worth $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on NEM shares. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Bernstein Bank lifted their price objective on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Raymond James cut their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $54.31.

Insider Activity at Newmont

In other Newmont news, Director Harry M. Iv Conger purchased 9,498 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Down 0.7 %

NEM stock opened at $38.11 on Friday. The business has a fifty day moving average price of $41.55 and a 200 day moving average price of $46.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The stock has a market capitalization of $43.39 billion, a price-to-earnings ratio of -25.07, a P/E/G 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 for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. Analysts expect that Newmont Co. will post 3.08 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

Newmont 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.