Newmont Co. (NYSE:NEM) Holdings Increased by NBC Securities Inc.

NBC Securities Inc. grew its stake in shares of Newmont Co. (NYSE:NEM) by 37.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,908 shares of the basic materials company’s stock after buying an additional 1,063 shares during the quarter. NBC Securities Inc.’s holdings in Newmont were worth $141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Newmont by 43.8% in the 4th quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock worth $4,915,059,000 after purchasing an additional 36,170,995 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Newmont by 57.2% in 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 purchasing an additional 18,664,614 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 purchasing an additional 7,635,657 shares during the last quarter. First Eagle Investment Management LLC grew its stake 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 worth $983,267,000 after purchasing an additional 5,475,155 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Newmont in the fourth quarter worth approximately $604,516,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Down 1.3 %

NEM stock opened at $42.26 on Monday. 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 $45.92. The firm has a 50 day moving average of $41.33 and a two-hundred day moving average of $38.00.

Newmont (NYSE:NEM) last posted 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. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, sell-side analysts predict that Newmont Co. will post 2.42 earnings per share for the current year.

Newmont Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NEM shares. TD Securities boosted their price target on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. BMO Capital Markets cut 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. Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Citigroup cut their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Finally, National Bank Financial lowered shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.07.

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.