Rothschild Investment LLC Buys Shares of 2,440 Newmont Co. (NYSE:NEM)

Rothschild Investment LLC bought a new stake in shares of Newmont Co. (NYSE:NEM) during the second quarter, Holdings Channel reports. The fund bought 2,440 shares of the basic materials company’s stock, valued at approximately $102,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Newmont by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after purchasing an additional 16,190,422 shares during the period. First Eagle Investment Management LLC boosted its holdings 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 in the last quarter. Norges Bank bought a new stake in shares of Newmont in the 4th quarter valued at about $604,516,000. Finally, Northern Trust Corp boosted its holdings in shares of Newmont by 25.9% in the 4th quarter. Northern Trust Corp now owns 12,988,497 shares of the basic materials company’s stock valued at $537,594,000 after buying an additional 2,671,774 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM opened at $52.27 on Wednesday. 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. The company has a 50 day simple moving average of $47.86 and a two-hundred day simple moving average of $41.75. The stock has a market cap of $60.27 billion, a price-to-earnings ratio of -19.58, a PEG ratio of 0.39 and a beta of 0.47.

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

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.91%. The ex-dividend date is Thursday, September 5th. Newmont’s payout ratio is -37.45%.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. BMO Capital Markets raised their price target on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Sanford C. Bernstein lowered their price target on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and lifted their target price for the stock from $46.00 to $61.00 in a research note on Wednesday, July 10th. Finally, Bank of America lifted their target price on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.46.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the completion of the transaction, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.

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.