First Trust Bank Ltd. Purchases New Position in Newmont Co. (NYSE:NEM)

First Trust Bank Ltd. purchased a new stake in Newmont Co. (NYSE:NEM) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 40,048 shares of the basic materials company’s stock, valued at approximately $1,658,000. Newmont makes up about 2.3% of First Trust Bank Ltd.’s investment portfolio, making the stock its 13th largest holding.

Several other large investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its stake in shares of Newmont by 57.2% during 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 position in Newmont in the fourth quarter worth about $604,516,000. Vanguard Group Inc. grew its stake in Newmont by 17.6% in the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after purchasing an additional 12,360,775 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Newmont by 44.9% in 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, First Eagle Investment Management LLC grew its stake in Newmont by 29.9% in the fourth 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 in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Newmont stock traded up $0.75 during mid-day trading on Friday, hitting $41.98. The company’s stock had a trading volume of 5,860,687 shares, compared to its average volume of 12,793,454. 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 stock has a market capitalization of $48.41 billion, a P/E ratio of -15.69, a P/E/G ratio of 0.35 and a beta of 0.48. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $45.92. The stock’s fifty day moving average price is $39.15 and its two-hundred day moving average price is $37.42.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The firm’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. Research analysts forecast that Newmont Co. will post 2.37 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.38%. Newmont’s dividend payout ratio (DPR) is -37.45%.

Analyst Ratings Changes

A number of equities analysts recently commented on NEM shares. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Royal Bank of Canada cut their target price on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. BMO Capital Markets cut their target price on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a report on Tuesday. 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. Finally, Scotiabank raised their target price on shares of Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.36.

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.