M&T Bank Corp Sells 5,665 Shares of Newmont Co. (NYSE:NEM)

M&T Bank Corp lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 8.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 63,505 shares of the basic materials company’s stock after selling 5,665 shares during the period. M&T Bank Corp’s holdings in Newmont were worth $2,364,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Avior Wealth Management LLC grew its holdings in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Newmont during the third quarter worth $28,000. HHM Wealth Advisors LLC grew its holdings in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. McIlrath & Eck LLC grew its holdings in shares of Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of Newmont during the fourth quarter worth $43,000. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.1 %

NYSE:NEM opened at $43.88 on Monday. The firm has a market capitalization of $49.44 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.41 and a beta of 0.54. 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 business’s 50-day moving average price is $42.53 and its two-hundred day moving average price is $45.99. Newmont Co. has a 1-year low of $33.29 and a 1-year high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping 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 return on equity of 13.52% and a net margin of 17.92%. On average, equities analysts expect that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Wall Street Analyst Weigh In

NEM has been the topic of several research analyst reports. The Goldman Sachs Group began coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. TD Securities decreased their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Royal Bank of Canada raised their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Finally, Raymond James decreased their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.16.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 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 $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock valued at $1,388,758 over the last 90 days. 0.06% of the stock is owned by company 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.