Bangor Savings Bank Lowers Stake in Newmont Co. (NYSE:NEM)

Bangor Savings Bank cut its position in Newmont Co. (NYSE:NEM) by 17.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,473 shares of the basic materials company’s stock after selling 3,347 shares during the period. Bangor Savings Bank’s holdings in Newmont were worth $827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Advisor Networks LLC lifted its position in shares of Newmont by 8.5% in the fourth quarter. Cetera Advisor Networks LLC now owns 127,822 shares of the basic materials company’s stock valued at $5,291,000 after acquiring an additional 10,031 shares in the last quarter. Prudential PLC grew its holdings in Newmont by 19.7% during the 4th quarter. Prudential PLC now owns 41,312 shares of the basic materials company’s stock valued at $1,710,000 after buying an additional 6,795 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its holdings in shares of Newmont by 51.3% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 100,619 shares of the basic materials company’s stock worth $4,165,000 after buying an additional 34,103 shares in the last quarter. XML Financial LLC boosted its position in shares of Newmont by 2.0% during the fourth quarter. XML Financial LLC now owns 71,793 shares of the basic materials company’s stock worth $2,972,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Advanced Portfolio Management LLC purchased a new position in Newmont during the fourth quarter valued at $508,000. 68.85% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the transaction, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is currently owned by corporate insiders.

Newmont Stock Down 0.7 %

NYSE:NEM opened at $52.97 on Tuesday. The stock has a fifty day simple moving average of $51.51 and a 200-day simple moving average of $45.03. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The company has a market cap of $61.08 billion, a price-to-earnings ratio of -19.84, a price-to-earnings-growth ratio of 0.47 and a beta of 0.50. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $56.30.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period last year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. Analysts anticipate that Newmont Co. will post 2.88 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio is -37.45%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, Bank of America upped their price target on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.31.

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.