AMG National Trust Bank Trims Stock Position in Newmont Co. (NYSE:NEM)

AMG National Trust Bank lessened its stake in shares of Newmont Co. (NYSE:NEM) by 9.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,642 shares of the basic materials company’s stock after selling 9,733 shares during the quarter. AMG National Trust Bank’s holdings in Newmont were worth $3,317,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC increased its holdings in shares of Newmont by 191.8% in the 3rd 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 during the period. Prospera Private Wealth LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $28,000. HHM Wealth Advisors LLC increased its holdings in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 350 shares during the period. Promus Capital LLC acquired a new position in shares of Newmont in the 4th quarter valued at $38,000. Finally, McIlrath & Eck LLC increased its holdings in shares of Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NEM. Raymond James cut their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. TD Securities dropped their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada boosted their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have assigned 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 $53.16.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,231 shares of company stock worth $1,388,758. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

NYSE:NEM opened at $43.93 on Friday. The firm has a market cap of $49.51 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average is $42.41 and its two-hundred day moving average is $46.12. Newmont Co. has a 12-month low of $33.29 and a 12-month high of $58.72.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Research analysts expect that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.28%. Newmont’s dividend payout ratio (DPR) is 34.13%.

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.