Financial Counselors Inc. Has $3.29 Million Stock Position in Newmont Co. (NYSE:NEM)

Financial Counselors Inc. lessened its stake in Newmont Co. (NYSE:NEM) by 0.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 78,682 shares of the basic materials company’s stock after selling 598 shares during the quarter. Financial Counselors Inc.’s holdings in Newmont were worth $3,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. Vanguard Group Inc. grew its stake in shares of Newmont by 43.8% during the fourth quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock valued at $4,915,059,000 after purchasing an additional 36,170,995 shares during the last quarter. Norges Bank acquired a new position in Newmont during the 4th quarter worth $604,516,000. Charles Schwab Investment Management Inc. boosted its position in Newmont by 44.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock valued at $1,019,813,000 after buying an additional 7,635,657 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Newmont by 39.8% in the 1st quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock valued at $832,354,000 after buying an additional 6,617,145 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in shares of Newmont by 29.9% in the 4th quarter. First Eagle Investment Management LLC now owns 23,756,158 shares of the basic materials company’s stock valued at $983,267,000 after buying an additional 5,475,155 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NEM shares. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and upped their price target for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and raised their target price for the company from $40.00 to $50.00 in a research note on Monday, June 17th. Sanford C. Bernstein lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday, May 16th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Bank of America raised their price objective on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $51.46.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Newmont Trading Up 0.4 %

NEM opened at $53.39 on Tuesday. The firm’s fifty day simple moving average is $47.65 and its 200 day simple moving average is $41.61. The stock has a market capitalization of $61.57 billion, a P/E ratio of -20.00, a P/E/G ratio of 0.39 and a beta of 0.47. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $53.88.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. As a group, research analysts anticipate that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, September 5th. Newmont’s payout ratio is -37.45%.

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.