Newmont Co. (NYSE:NEM) Shares Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lifted its stake in shares of Newmont Co. (NYSE:NEM) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 51,966 shares of the basic materials company’s stock after purchasing an additional 662 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Newmont were worth $2,176,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NEM. Vanguard Group Inc. boosted 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 acquiring an additional 36,170,995 shares during the last quarter. Norges Bank acquired a new stake in Newmont in the 4th quarter worth about $604,516,000. Charles Schwab Investment Management Inc. boosted its stake 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 worth $1,019,813,000 after buying an additional 7,635,657 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in 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 worth $832,354,000 after buying an additional 6,617,145 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in 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 worth $983,267,000 after buying an additional 5,475,155 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Up 0.4 %

Shares of NYSE:NEM traded up $0.22 during mid-day trading on Friday, hitting $53.40. 8,670,391 shares of the company traded hands, compared to its average volume of 10,656,988. The firm has a market cap of $61.58 billion, a P/E ratio of -20.00, a PEG ratio of 0.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $53.88. The firm’s 50 day simple moving average is $47.21 and its 200 day simple moving average is $41.20.

Newmont (NYSE:NEM) last announced its earnings results 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. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate 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 revenue was up 64.1% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. On average, equities analysts anticipate that Newmont Co. will post 2.76 EPS 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 issued a dividend of $0.25 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.87%. Newmont’s dividend payout ratio is presently -37.45%.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the sale, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on NEM. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $48.00 to $59.00 in a research note on Monday, August 19th. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and raised their price target for the stock from $46.00 to $61.00 in a research note on Wednesday, July 10th. Sanford C. Bernstein decreased their price target on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday, May 16th. BMO Capital Markets raised their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

Newmont 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.