Newmont Co. (NYSE:NEM) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its stake in shares of Newmont Co. (NYSE:NEM) by 57.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,290,469 shares of the basic materials company’s stock after purchasing an additional 18,664,614 shares during the period. Newmont accounts for 3.9% of Van ECK Associates Corp’s portfolio, making the stock its 2nd largest holding. Van ECK Associates Corp owned 6.45% of Newmont worth $2,122,913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Newmont by 17.6% during the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after buying an additional 12,360,775 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Newmont by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock valued at $628,278,000 after acquiring an additional 483,377 shares during the last quarter. Northern Trust Corp raised its position in Newmont by 5.7% in the 3rd quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock valued at $381,203,000 after purchasing an additional 554,513 shares during the last quarter. Invesco Ltd. lifted its position in Newmont by 5.8% during the 3rd quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock worth $289,232,000 after buying an additional 428,537 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Newmont by 0.5% during the third quarter. Legal & General Group Plc now owns 6,470,393 shares of the basic materials company’s stock worth $239,205,000 after purchasing an additional 34,651 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 1.1 %

Shares of NYSE NEM traded down $0.47 during midday trading on Monday, reaching $42.26. 12,278,492 shares of the stock were exchanged, compared to its average volume of 13,791,921. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $50.18. The business has a 50-day simple moving average of $35.54 and a two-hundred day simple moving average of $36.93. The company has a market capitalization of $48.72 billion, a price-to-earnings ratio of -15.99, a P/E/G ratio of 1.09 and a beta of 0.50.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company’s revenue was up 50.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. As a group, equities research analysts expect that Newmont Co. will post 2.16 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.37%. Newmont’s payout ratio is -37.45%.

Analyst Upgrades and Downgrades

NEM has been the subject of several research reports. Jefferies Financial Group started coverage on Newmont in a research note on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price for the company. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday. Scotiabank reduced their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Royal Bank of Canada dropped their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Finally, BMO Capital Markets cut their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.75.

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.