Fulton Bank N.A. Sells 3,718 Shares of Newmont Co. (NYSE:NEM)

Fulton Bank N.A. decreased its stake in shares of Newmont Co. (NYSE:NEM) by 24.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,470 shares of the basic materials company’s stock after selling 3,718 shares during the quarter. Fulton Bank N.A.’s holdings in Newmont were worth $427,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NEM. Waverton Investment Management Ltd grew its stake in Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after purchasing an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Newmont by 117.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 18,722 shares in the last quarter. Red Cedar Investment Management LLC bought a new position in shares of Newmont during the 3rd quarter worth $1,263,000. Nordea Investment Management AB increased its stake in shares of Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after buying an additional 1,578,545 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in shares of Newmont by 99.8% in the third quarter. Two Sigma Advisers LP now owns 601,276 shares of the basic materials company’s stock valued at $32,138,000 after acquiring an additional 300,400 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Down 0.1 %

Newmont stock opened at $39.09 on Friday. The business’s 50-day simple moving average is $40.74 and its two-hundred day simple moving average is $46.86. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company has a market cap of $44.50 billion, a PE ratio of -25.72, a PEG ratio of 0.35 and a beta of 0.50. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

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

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were paid a $0.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.56%. Newmont’s payout ratio is currently -65.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NEM. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. CLSA initiated coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. Finally, Jefferies Financial Group lifted their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $54.31.

Insider Buying and Selling

In related news, Director Harry M. Iv Conger purchased 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

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.