Commerzbank Aktiengesellschaft FI Grows Position in Newmont Co. (NYSE:NEM)

Commerzbank Aktiengesellschaft FI lifted its position in shares of Newmont Co. (NYSE:NEM) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 471,085 shares of the basic materials company’s stock after purchasing an additional 10,590 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Newmont were worth $19,724,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NEM. Vanguard Group Inc. grew its position in Newmont by 13.6% during the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after buying an additional 16,190,422 shares during the period. Van ECK Associates Corp grew its position in shares of 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 valued at $2,122,913,000 after acquiring an additional 18,664,614 shares during the period. Charles Schwab Investment Management Inc. increased 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 valued at $1,019,813,000 after purchasing an additional 7,635,657 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in 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 period. Finally, Bank of New York Mellon Corp boosted its position 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. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Up 0.5 %

Newmont stock traded up $0.26 during trading on Tuesday, reaching $51.45. 6,285,375 shares of the company were exchanged, compared to its average volume of 10,902,975. 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’s 50 day simple moving average is $45.70 and its two-hundred day simple moving average is $40.38. The company has a market capitalization of $59.33 billion, a P/E ratio of -19.27, a PEG ratio of 0.37 and a beta of 0.47. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $52.07.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the company posted $0.33 EPS. The company’s revenue was up 64.1% compared to the same quarter last year. On average, equities research analysts expect that Newmont Co. will post 2.76 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company 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 $0.25 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.94%. Newmont’s dividend payout ratio (DPR) is -37.45%.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research analyst reports. TD Securities upped their target price on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Jefferies Financial Group upped their price objective on shares of Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. 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 research report on Thursday, July 25th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $50.92.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’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 transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at $15,420,830.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.