Rothschild Investment LLC bought a new stake in shares of Newmont Co. (NYSE:NEM – Free Report) 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 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.
Read Our Latest Report on Newmont
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.
Recommended Stories
- Five stocks we like better than Newmont
- Breakout Stocks: What They Are and How to Identify Them
- 3 Small Cap Stocks That Insiders Are Buying
- How to Use the MarketBeat Dividend Calculator
- Analysts Forecast Big Upside for Western Digital—Don’t Miss Out
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- 3 Must-Own Stocks for Bullish Investors in Today’s Market
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).
Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.