Edmond DE Rothschild Holding S.A. Boosts Position in Newmont Co. (NYSE:NEM)

Edmond DE Rothschild Holding S.A. grew its holdings in Newmont Co. (NYSE:NEM) by 51.3% during the 1st quarter, Holdings Channel reports. The fund owned 135,259 shares of the basic materials company’s stock after purchasing an additional 45,879 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Newmont were worth $4,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Public Sector Pension Investment Board raised its stake in shares of Newmont by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 85,377 shares of the basic materials company’s stock valued at $3,155,000 after buying an additional 9,278 shares during the last quarter. American Century Companies Inc. raised its position in Newmont by 5.6% during the third quarter. American Century Companies Inc. now owns 899,297 shares of the basic materials company’s stock valued at $33,229,000 after acquiring an additional 47,485 shares in the last quarter. Fulton Bank N.A. lifted its holdings in Newmont by 14.3% in the fourth quarter. Fulton Bank N.A. now owns 8,838 shares of the basic materials company’s stock valued at $366,000 after acquiring an additional 1,107 shares during the period. Wedmont Private Capital purchased a new stake in Newmont in the 4th quarter worth approximately $352,000. Finally, Elevated Capital Advisors LLC acquired a new stake in shares of Newmont during the 4th quarter worth approximately $203,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $42.13, for a total value 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 approximately $13,964,788.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Bank of America boosted their target price on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. TD Securities upped their price objective 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. Sanford C. Bernstein lowered their target price on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday, May 16th. BMO Capital Markets cut their price target on Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Finally, Citigroup reduced their price target on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $50.21.

Newmont Price Performance

NYSE NEM traded down $0.06 during mid-day trading on Wednesday, hitting $48.26. The stock had a trading volume of 8,195,289 shares, compared to its average volume of 11,482,950. The firm’s 50 day moving average is $42.82 and its 200 day moving average is $38.45. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. The stock has a market capitalization of $55.65 billion, a price-to-earnings ratio of -18.07, a PEG ratio of 0.38 and a beta of 0.47. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $48.97.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The business had revenue of $4.02 billion during 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 company’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Equities research analysts forecast that Newmont Co. will post 2.61 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. Newmont’s payout ratio is -37.45%.

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.