Central Pacific Bank Trust Division Has $295,000 Stock Position in Newmont Co. (NYSE:NEM)

Central Pacific Bank Trust Division boosted its holdings in shares of Newmont Co. (NYSE:NEM) by 10.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,519 shares of the basic materials company’s stock after buying an additional 519 shares during the period. Central Pacific Bank Trust Division’s holdings in Newmont were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV raised its position in Newmont by 12.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 95,346 shares of the basic materials company’s stock valued at $5,096,000 after buying an additional 10,818 shares during the period. Trust Co. of Toledo NA OH acquired a new position in Newmont in the 3rd quarter worth about $251,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Newmont by 117.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 629,800 shares of the basic materials company’s stock worth $26,370,000 after purchasing an additional 339,800 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Newmont in the 2nd quarter worth about $91,000. Finally, Heritage Wealth Management Inc. acquired a new position in Newmont in the 2nd quarter worth about $239,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

NEM opened at $53.20 on Friday. The firm has a market capitalization of $61.35 billion, a P/E ratio of -19.93, a price-to-earnings-growth ratio of 0.47 and a beta of 0.49. The stock’s 50 day moving average price is $51.38 and its two-hundred day moving average price is $44.74. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. Newmont Co. has a 12-month low of $29.42 and a 12-month 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 the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same quarter last year, the firm earned $0.33 EPS. Newmont’s revenue for the quarter was up 64.1% compared to the same quarter last year. On average, equities analysts forecast that Newmont Co. will post 2.88 earnings per share for the current year.

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NEM shares. BMO Capital Markets upped their target price on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. BNP Paribas raised Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Jefferies Financial Group upped their target price on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and upped their price target for the stock from $46.00 to $61.00 in a research note on Wednesday, July 10th. Finally, Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Five investment 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.62.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the transaction, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is 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.