Fulton Bank N.A. Buys 722 Shares of Newmont Co. (NYSE:NEM)

Fulton Bank N.A. lifted its stake in shares of Newmont Co. (NYSE:NEM) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,560 shares of the basic materials company’s stock after purchasing an additional 722 shares during the quarter. Fulton Bank N.A.’s holdings in Newmont were worth $343,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 buying an additional 36,170,995 shares during the period. Van ECK Associates Corp increased its holdings in Newmont by 57.2% during the 4th quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock worth $2,122,913,000 after acquiring an additional 18,664,614 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 purchasing an additional 7,635,657 shares during the period. First Eagle Investment Management LLC grew its position in shares of Newmont by 29.9% during 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 purchasing an additional 5,475,155 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Newmont in the fourth quarter worth $604,516,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 1.3 %

NEM opened at $42.26 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The stock’s 50 day simple moving average is $41.33 and its 200 day simple moving average is $38.02. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $45.92.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Newmont Co. will post 2.42 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is currently -37.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NEM. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and lifted their price target for the company from $40.00 to $50.00 in a research report on Monday, June 17th. TD Securities lifted their target price on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research report on Friday, April 26th. BMO Capital Markets decreased their price target on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, National Bank Financial lowered shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.07.

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.