Baader Bank Aktiengesellschaft Increases Stock Position in Newmont Co. (NYSE:NEM)

Baader Bank Aktiengesellschaft increased its position in Newmont Co. (NYSE:NEM) by 26.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,525 shares of the basic materials company’s stock after purchasing an additional 2,425 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Newmont were worth $458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NEM. Vanguard Group Inc. boosted its stake in Newmont by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after acquiring an additional 16,190,422 shares during the last quarter. Van ECK Associates Corp boosted its stake in 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $1,019,813,000 after acquiring an additional 7,635,657 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Newmont by 29.9% during the 4th 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 acquiring an additional 5,475,155 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Newmont by 39.8% during the 1st quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock valued at $832,354,000 after acquiring an additional 6,617,145 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research analyst reports. CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and increased their price objective for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. TD Securities raised their price target on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Bank of America raised their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Jefferies Financial Group raised their price target 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. Finally, StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Newmont Trading Up 0.3 %

Shares of NEM traded up $0.17 during midday trading on Thursday, hitting $49.31. The stock had a trading volume of 5,102,686 shares, compared to its average volume of 10,975,990. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $50.72. The business has a 50-day simple moving average of $44.95 and a two-hundred day simple moving average of $39.90. The firm has a market cap of $56.86 billion, a P/E ratio of -18.35, a price-to-earnings-growth ratio of 0.37 and a beta of 0.47. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping 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 company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was up 64.1% on a year-over-year basis. As a group, equities analysts forecast that Newmont Co. will post 2.76 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, September 5th. Newmont’s payout ratio is -37.45%.

Insiders Place Their Bets

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

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.