Capital International Investors Takes Position in Newmont Co. (NYSE:NEM)

Capital International Investors acquired a new stake in Newmont Co. (NYSE:NEM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,379,585 shares of the basic materials company’s stock, valued at approximately $49,444,000. Capital International Investors owned 0.12% of Newmont as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Vanguard Group Inc. raised its holdings in Newmont by 43.8% in 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 in the last quarter. Van ECK Associates Corp raised its holdings in Newmont by 57.2% in the fourth quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock valued at $2,122,913,000 after acquiring an additional 18,664,614 shares in the last quarter. Norges Bank acquired a new stake in Newmont during the fourth quarter worth approximately $604,516,000. Charles Schwab Investment Management Inc. raised its holdings in Newmont by 44.9% during the fourth 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Newmont by 39.8% during the first 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 purchasing an additional 6,617,145 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NEM shares. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Sanford C. Bernstein cut their target price on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a report on Thursday, May 16th. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Jefferies Financial Group lifted their target price on shares of Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, BMO Capital Markets lifted their target price on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the sale, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM traded up $1.03 on Friday, reaching $46.73. 8,371,515 shares of the company were exchanged, compared to its average volume of 7,299,322. The company has a current ratio of 2.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.31. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $48.97. The firm has a market cap of $53.89 billion, a price-to-earnings ratio of -17.50, a price-to-earnings-growth ratio of 0.36 and a beta of 0.47. The company has a 50-day moving average of $43.39 and a 200-day moving average of $38.78.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the prior year, the company posted $0.33 EPS. The business’s revenue for the quarter was up 64.1% on a year-over-year basis. Equities analysts forecast that Newmont Co. will post 2.64 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.14%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

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.