Johnson Investment Counsel Inc. Buys Shares of 4,409 Newmont Corporation (NYSE:NEM)

Johnson Investment Counsel Inc. acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,409 shares of the basic materials company's stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Newmont in the fourth quarter valued at about $626,074,000. Voloridge Investment Management LLC acquired a new stake in shares of Newmont in the fourth quarter valued at about $92,693,000. Capital Research Global Investors increased its stake in shares of Newmont by 70.7% in the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock valued at $210,105,000 after buying an additional 2,338,953 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Newmont in the fourth quarter valued at about $76,281,000. Finally, Invesco Ltd. increased its stake in shares of Newmont by 23.9% in the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after buying an additional 2,028,150 shares during the period. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

NEM has been the subject of several recent research reports. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. TD Securities decreased their price target on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and upped their target price for the company from $50.00 to $60.00 in a research report on Friday, April 11th. Finally, Argus set a $63.00 target price on Newmont in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.68.

Newmont Stock Down 2.3%

NYSE:NEM traded down $1.34 on Tuesday, hitting $58.12. The stock had a trading volume of 14,888,288 shares, compared to its average volume of 10,504,205. The business's fifty day moving average is $54.02 and its 200 day moving average is $47.23. The company has a market cap of $64.69 billion, a PE ratio of 13.03, a P/E/G ratio of 0.78 and a beta of 0.31. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $60.31.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter in the prior year, the company earned $0.55 earnings per share. On average, equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. Newmont's dividend payout ratio (DPR) is currently 22.42%.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the sale, the executive vice president now directly owns 77,526 shares of the company's stock, valued at $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the sale, the director now owns 45,180 shares in the company, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,154 shares of company stock worth $381,539. 0.05% of the stock is owned by company insiders.

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.