FARMERS & MERCHANTS TRUST Co OF LONG BEACH Sells 27,366 Shares of Newmont Co. (NYSE:NEM)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lessened its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 73.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,940 shares of the basic materials company's stock after selling 27,366 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Newmont were worth $480,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NEM. Brighton Jones LLC grew its holdings in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after purchasing an additional 1,847 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Newmont during the fourth quarter worth $7,508,000. Savant Capital LLC grew its holdings in shares of Newmont by 29.6% during the fourth quarter. Savant Capital LLC now owns 14,411 shares of the basic materials company's stock worth $536,000 after purchasing an additional 3,292 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Newmont by 13.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 582,060 shares of the basic materials company's stock worth $22,178,000 after purchasing an additional 69,271 shares during the last quarter. Finally, Avestar Capital LLC grew its holdings in shares of Newmont by 6.5% during the fourth quarter. Avestar Capital LLC now owns 5,757 shares of the basic materials company's stock worth $214,000 after purchasing an additional 352 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Trading Up 3.5%

NYSE:NEM opened at $57.87 on Monday. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The business's 50-day moving average price is $53.00 and its two-hundred day moving average price is $46.44. 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 firm has a market capitalization of $64.41 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same quarter last year, the firm posted $0.55 earnings per share. 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 Friday, June 20th. Stockholders of record on Tuesday, May 27th 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 1.73%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's dividend payout ratio is currently 22.42%.

Wall Street Analyst Weigh In

NEM has been the topic of several research analyst reports. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. Royal Bank of Canada raised their price target on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Cfra Research upgraded Newmont to a "strong-buy" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and an average target price of $57.68.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the sale, the executive vice president now owns 77,526 shares of the company's stock, valued at $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $112,344.93. Following the transaction, the director now owns 45,180 shares of the company's stock, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,154 shares of company stock valued at $381,539 over the last 90 days. 0.05% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Co. (NYSE:NEM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.