Barrow Hanley Mewhinney & Strauss LLC Raises Stake in Newmont Co. (NYSE:NEM)

Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Newmont Co. (NYSE:NEM) by 29.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,728,350 shares of the basic materials company’s stock after buying an additional 1,074,623 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 0.41% of Newmont worth $197,976,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NEM. Vanguard Group Inc. increased its position in shares of Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock worth $4,836,262,000 after acquiring an additional 16,190,422 shares during the last quarter. Van ECK Associates Corp increased its holdings in Newmont by 2.6% during the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after purchasing an additional 1,289,084 shares during the last quarter. Bank of New York Mellon Corp raised its position 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 purchasing an additional 6,617,145 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Newmont by 25.9% during 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 during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after buying an additional 545,903 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NEM shares. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. UBS Group upped their target price on shares of Newmont from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Finally, Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Thursday, August 29th. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $52.62.

Newmont Price Performance

Shares of NEM opened at $54.47 on Friday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $54.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The stock has a fifty day moving average price of $50.10 and a 200 day moving average price of $43.54. The company has a market cap of $62.81 billion, a P/E ratio of -20.40, a PEG ratio of 0.37 and a beta of 0.49.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company’s quarterly revenue was up 64.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. On average, research analysts forecast that Newmont Co. will post 2.82 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. Newmont’s payout ratio is currently -37.45%.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value 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 legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,000 shares of company stock valued at $2,744,700. Insiders own 0.06% of the company’s stock.

About Newmont

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.