Newmont Co. (NYSE:NEM) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Newmont Co. (NYSE:NEM) by 44.9% during the fourth quarter, Holdings Channel reports. The firm owned 24,639,109 shares of the basic materials company’s stock after purchasing an additional 7,635,657 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Newmont were worth $1,019,813,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Grey Street Capital LLC raised its holdings in shares of Newmont by 0.4% in the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after purchasing an additional 289 shares during the period. Reitz Capital Advisors LLC raised its holdings in shares of Newmont by 1.1% during the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after buying an additional 298 shares during the period. Antonetti Capital Management LLC raised its holdings in shares of Newmont by 30.0% during the 3rd quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock valued at $48,000 after buying an additional 300 shares during the period. Sigma Planning Corp raised its holdings in shares of Newmont by 4.6% during the 3rd quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock valued at $261,000 after buying an additional 309 shares during the period. Finally, Jacobsen Capital Management raised its holdings in shares of Newmont by 3.2% during the 4th quarter. Jacobsen Capital Management now owns 11,841 shares of the basic materials company’s stock valued at $490,000 after buying an additional 368 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Newmont stock traded up $0.30 during mid-day trading on Wednesday, hitting $41.74. 3,422,016 shares of the company’s stock traded hands, compared to its average volume of 13,377,386. The firm has a 50 day moving average price of $36.85 and a 200 day moving average price of $37.01. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The company has a market cap of $48.13 billion, a PE ratio of -15.47, a price-to-earnings-growth ratio of 0.96 and a beta of 0.48. Newmont Co. has a one year low of $29.42 and a one year high of $48.56.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis. On average, equities analysts forecast that Newmont Co. will post 2.32 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio is presently -37.45%.

Wall Street Analyst Weigh In

NEM has been the topic of several analyst reports. Scotiabank dropped their target price on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Royal Bank of Canada lowered their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. National Bank Financial lowered Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. TD Securities raised their price objective on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, Jefferies Financial Group started coverage on Newmont in a research note on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.35.

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.