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

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

A number of other hedge funds have also recently bought and sold shares of the stock. Studio Investment Management LLC grew its stake in Newmont by 29.4% in the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 261 shares in the last quarter. Confluence Investment Management LLC grew its stake in Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after purchasing an additional 281 shares in the last quarter. Howard Capital Management Inc. boosted its stake in shares of Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company’s stock worth $210,000 after acquiring an additional 292 shares during the period. Fiduciary Financial Group LLC boosted its stake in shares of Newmont by 3.6% during the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 303 shares during the period. Finally, Conning Inc. boosted its stake in shares of Newmont by 6.0% during the 4th quarter. Conning Inc. now owns 5,460 shares of the basic materials company’s stock worth $203,000 after acquiring an additional 311 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Raymond James reduced their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Scotiabank reduced their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. CLSA started coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. Bernstein Bank lifted their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, Royal Bank of Canada lifted their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. The trade was a 3.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the sale, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,231 shares of company stock valued at $1,388,758. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NYSE NEM opened at $43.88 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a fifty-two week low of $33.29 and a fifty-two week high of $58.72. The stock has a market capitalization of $49.44 billion, a PE ratio of 14.98, a P/E/G ratio of 0.41 and a beta of 0.54. The business has a fifty day moving average price of $42.53 and a two-hundred day moving average price of $45.99.

Newmont (NYSE:NEM) last posted 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. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, equities analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

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.