Farmers Trust Co. Sells 4,549 Shares of Newmont Co. (NYSE:NEM)

Farmers Trust Co. lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 2.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 168,539 shares of the basic materials company’s stock after selling 4,549 shares during the period. Newmont makes up about 1.7% of Farmers Trust Co.’s holdings, making the stock its 10th biggest holding. Farmers Trust Co.’s holdings in Newmont were worth $9,008,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of NEM. Meeder Asset Management Inc. bought a new position in Newmont during the 2nd quarter worth $27,000. LRI Investments LLC acquired a new position in shares of Newmont in the first quarter worth approximately $25,000. Heritage Wealth Advisors boosted its holdings in Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 878 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Newmont in the 1st quarter worth approximately $35,000. Finally, Rise Advisors LLC boosted its stake in shares of Newmont by 2,373.2% in the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 973 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the 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 sale, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,000 shares of company stock valued at $3,434,640. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent analyst reports. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday. JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Scotiabank upgraded shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $48.00 to $59.00 in a research note on Monday, August 19th. Finally, BMO Capital Markets lifted their price target on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $52.62.

Newmont Trading Down 1.5 %

NEM opened at $53.20 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The stock has a market cap of $61.35 billion, a PE ratio of -19.93, a PEG ratio of 0.47 and a beta of 0.49. The business has a 50 day moving average of $51.38 and a 200-day moving average of $44.74. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $56.30.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 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 64.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS. Equities research analysts predict that Newmont Co. will post 2.88 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. Newmont’s payout ratio is -37.45%.

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.