AMG National Trust Bank Has $1.31 Million Holdings in Newmont Corporation $NEM

Key Points

• AMG National Trust Bank cut its stake in Newmont by 84.1% in Q4, selling 69,222 shares and holding 13,084 shares valued at $1.306 million at quarter-end.
• Newmont beat Q earnings and revenue estimates—EPS $2.90 vs. $2.07 est. and revenue $7.31B vs. $6.83B—displaying 45.8% revenue growth and a 33.87% net margin, and announced a $0.26 quarterly dividend (annualized $1.04, ~1.0% yield).
• Analysts have raised price targets and ratings recently, leaving Newmont with a consensus Moderate Buy and an average price target of $142.01, with upgrades from firms including BMO, Raymond James, Goldman and TD.

AMG National Trust Bank lessened its stake in Newmont Corporation (NYSE:NEM - Free Report) by 84.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,084 shares of the basic materials company's stock after selling 69,222 shares during the quarter. AMG National Trust Bank's holdings in Newmont were worth $1,306,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NEM. GoalVest Advisory LLC acquired a new position in Newmont in the 4th quarter valued at approximately $25,000. Physician Wealth Advisors Inc. increased its stake in Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock valued at $26,000 after buying an additional 236 shares during the period. JPL Wealth Management LLC acquired a new position in Newmont in the 3rd quarter valued at approximately $27,000. Lodestone Wealth Management LLC acquired a new position in Newmont in the 4th quarter valued at approximately $28,000. Finally, Rosenberg Matthew Hamilton increased its stake in Newmont by 308.0% in the 4th quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company's stock valued at $31,000 after buying an additional 231 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

NYSE NEM opened at $107.44 on Thursday. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $113.85 and a 200 day simple moving average of $105.31. The company has a market cap of $114.70 billion, a P/E ratio of 13.94, a P/E/G ratio of 0.88 and a beta of 0.46. Newmont Corporation has a 1 year low of $48.27 and a 1 year high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont's quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. On average, sell-side analysts predict that Newmont Corporation will post 8.97 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont's dividend payout ratio is currently 13.49%.

Analysts Set New Price Targets

Several research firms have weighed in on NEM. BMO Capital Markets upped their price objective on shares of Newmont from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Raymond James Financial upped their price objective on shares of Newmont from $111.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, January 15th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Saturday, April 25th. TD upped their price objective on shares of Newmont from $116.00 to $129.00 and gave the company a "hold" rating in a research note on Monday. Finally, The Goldman Sachs Group upped their price objective on shares of Newmont from $123.20 to $125.10 and gave the company a "buy" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and an average price target of $142.01.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the sale, the executive vice president directly owned 52,315 shares of the company's stock, valued at approximately $5,916,303.35. This represents a 5.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David James Fry sold 18,394 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 24,394 shares of company stock valued at $2,713,281. 0.06% of the stock is owned by insiders.

Newmont Profile

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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