Newmont Corporation (NYSE:NEM) Stock Position Raised by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Newmont Corporation by 0.7%, owning approximately 0.62% of the company, valued at $333 million as of the latest SEC filing.
• A significant percentage of Newmont's stock, about 68.85%, is held by institutional investors, with several others also boosting their positions in the company during the past quarter.
• Newmont recently reported a quarterly earnings per share (EPS) of $1.43, surpassing estimates, and announced a quarterly dividend of $0.25 per share, leading to an annualized yield of 1.5%.

Charles Schwab Investment Management Inc. grew its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,901,244 shares of the basic materials company's stock after acquiring an additional 50,840 shares during the period. Charles Schwab Investment Management Inc. owned about 0.62% of Newmont worth $333,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Hemington Wealth Management lifted its holdings in shares of Newmont by 25.2% in the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock valued at $46,000 after purchasing an additional 194 shares during the last quarter. Ipswich Investment Management Co. Inc. raised its stake in shares of Newmont by 1.4% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock worth $689,000 after buying an additional 200 shares in the last quarter. SOA Wealth Advisors LLC. lifted its holdings in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 201 shares during the period. Rothschild Investment LLC boosted its holdings in Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after buying an additional 219 shares in the last quarter. Finally, Twin Capital Management Inc. increased its stake in Newmont by 0.7% in the 1st quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock valued at $1,873,000 after purchasing an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Activity

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the sale, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $132,221.82. Following the sale, the director owned 41,026 shares in the company, valued at $2,611,715.16. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,246 shares of company stock worth $1,373,251. 0.05% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of research reports. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Raymond James Financial increased their target price on Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Cfra Research upgraded Newmont to a "strong-buy" rating in a research report on Friday, April 25th. CIBC set a $74.00 price objective on Newmont and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, Argus set a $63.00 target price on shares of Newmont in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.58.

Newmont Trading Down 0.2%

NYSE:NEM traded down $0.11 on Friday, hitting $68.96. 9,068,992 shares of the stock were exchanged, compared to its average volume of 12,927,891. The stock has a market cap of $75.75 billion, a PE ratio of 12.38, a PEG ratio of 0.81 and a beta of 0.30. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $70.29. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average of $59.58 and a 200-day moving average of $52.32.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. Newmont's revenue for the quarter was up 20.8% on a year-over-year basis. As a group, equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. Newmont's dividend payout ratio (DPR) is 17.95%.

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.