Citizens National Bank Trust Department Reduces Holdings in Newmont Corporation $NEM

Citizens National Bank Trust Department decreased its position in shares of Newmont Corporation (NYSE:NEM) by 38.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,557 shares of the basic materials company’s stock after selling 5,380 shares during the quarter. Citizens National Bank Trust Department’s holdings in Newmont were worth $499,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in NEM. Nuveen LLC purchased a new position in shares of Newmont during the first quarter worth about $306,507,000. Pacer Advisors Inc. grew its holdings in shares of Newmont by 4,203.5% during the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock worth $259,580,000 after buying an additional 5,251,616 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Newmont by 1,502.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after buying an additional 4,399,778 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Newmont by 1,074.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock worth $116,416,000 after buying an additional 2,206,017 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Newmont by 2,003.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock worth $92,119,000 after buying an additional 1,506,010 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NEM. Scotiabank upped their price target on Newmont from $69.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Monday, July 28th. Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. BNP Paribas cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Finally, National Bankshares restated an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.18.

Newmont Price Performance

Shares of NEM opened at $87.03 on Wednesday. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $89.37. The stock’s 50 day moving average is $75.33 and its two-hundred day moving average is $61.73. The firm has a market capitalization of $95.59 billion, a PE ratio of 15.62, a P/E/G ratio of 0.99 and a beta of 0.34. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. Research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont’s payout ratio is currently 17.95%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president owned 58,736 shares of the company’s stock, valued at $3,739,133.76. The trade was a 4.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock valued at $1,132,065 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

About Newmont

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.