M&T Bank Corp Decreases Holdings in Newmont Co. (NYSE:NEM)

M&T Bank Corp decreased its holdings in Newmont Co. (NYSE:NEM) by 0.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,170 shares of the basic materials company’s stock after selling 256 shares during the period. M&T Bank Corp’s holdings in Newmont were worth $3,698,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its holdings in shares of Newmont by 29.1% in the second quarter. Sequoia Financial Advisors LLC now owns 9,884 shares of the basic materials company’s stock worth $414,000 after buying an additional 2,227 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Newmont by 1.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 141,722 shares of the basic materials company’s stock worth $5,934,000 after purchasing an additional 2,091 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in Newmont in the second quarter valued at approximately $974,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Newmont by 53.9% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,285 shares of the basic materials company’s stock valued at $96,000 after purchasing an additional 800 shares during the period. Finally, Fiduciary Financial Group LLC purchased a new stake in shares of Newmont during the second quarter valued at approximately $357,000. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the transaction, the chief executive officer now directly owns 271,469 shares of the company’s stock, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the purchase, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. 0.06% of the stock is owned by company insiders.

Newmont Stock Performance

Shares of NEM stock opened at $41.56 on Friday. The company’s fifty day moving average price is $46.99 and its 200-day moving average price is $47.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm earned $0.36 EPS. The company’s revenue was up 84.7% on a year-over-year basis. Equities analysts expect that Newmont Co. will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Analyst Upgrades and Downgrades

NEM has been the topic of several analyst reports. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. CLSA began coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. Scotiabank downgraded Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $59.00 to $55.00 in a report on Friday, October 25th. Finally, UBS Group cut Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.31.

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.