Banque Pictet & Cie SA Has $6.61 Million Stock Holdings in Newmont Corporation (NYSE:NEM)

Banque Pictet & Cie SA boosted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 17.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,920 shares of the basic materials company's stock after acquiring an additional 20,000 shares during the period. Banque Pictet & Cie SA's holdings in Newmont were worth $6,610,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Newmont by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock valued at $919,484,000 after purchasing an additional 1,213,397 shares during the last quarter. Norges Bank bought a new position in shares of Newmont during the 4th quarter worth about $626,074,000. Bank of New York Mellon Corp lifted its stake in shares of Newmont by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock valued at $773,159,000 after buying an additional 1,306,783 shares during the period. Northern Trust Corp increased its stake in Newmont by 11.5% during the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after acquiring an additional 1,309,177 shares during the period. Finally, Invesco Ltd. raised its holdings in Newmont by 23.9% in the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after acquiring an additional 2,028,150 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the transaction, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president owned 74,526 shares of the company's stock, valued at approximately $4,378,402.50. This represents a 3.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,231 shares of company stock valued at $679,813. Corporate insiders own 0.05% of the company's stock.

Newmont Price Performance

NEM traded up $0.34 during midday trading on Friday, hitting $60.12. The company had a trading volume of 9,103,957 shares, compared to its average volume of 10,640,782. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $60.31. The company has a market capitalization of $66.91 billion, a PE ratio of 13.48, a P/E/G ratio of 0.68 and a beta of 0.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. The firm's 50-day simple moving average is $55.34 and its 200-day simple moving average is $48.91.

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

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.66%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio is 22.42%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NEM. UBS Group lifted their price objective on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Stifel Nicolaus initiated coverage on shares of Newmont in a research note on Wednesday. They issued a "buy" rating and a $73.00 target price on the stock. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $60.90 price target on shares of Newmont in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.45.

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.