InTrack Investment Management Inc Has $1.24 Million Position in Newmont Co. (NYSE:NEM)

InTrack Investment Management Inc cut its holdings in Newmont Co. (NYSE:NEM) by 16.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 34,636 shares of the basic materials company’s stock after selling 6,669 shares during the quarter. InTrack Investment Management Inc’s holdings in Newmont were worth $1,241,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 36,170,995 shares in the last quarter. Van ECK Associates Corp lifted its stake in Newmont by 57.2% in 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 in the last quarter. Norges Bank acquired a new position in Newmont during the 4th quarter worth approximately $604,516,000. Charles Schwab Investment Management Inc. grew its stake in shares of Newmont by 44.9% during the 4th 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 acquiring an additional 7,635,657 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of 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 valued at $983,267,000 after purchasing an additional 5,475,155 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

Shares of NEM traded up $0.06 during midday trading on Tuesday, reaching $41.71. 5,965,145 shares of the stock were exchanged, compared to its average volume of 11,789,149. The stock’s 50 day simple moving average is $41.75 and its 200 day simple moving average is $38.10. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $45.92. The company has a market cap of $48.10 billion, a P/E ratio of -15.62, a PEG ratio of 0.35 and a beta of 0.47. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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 positive return on equity of 6.88% and a negative net margin of 20.19%. The company’s revenue was up 50.2% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. On average, sell-side analysts expect that Newmont Co. will post 2.48 earnings per share for the current year.

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NEM shares. TD Securities raised their target price on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Sanford C. Bernstein lowered their target price on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Thursday, May 16th. Bank of America increased their price target on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $50.00 in a report on Monday, June 17th. Finally, BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.13.

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.