Palouse Capital Management Inc. Has $4.42 Million Stock Position in Newmont Co. (NYSE:NEM)

Palouse Capital Management Inc. lifted its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,543 shares of the basic materials company's stock after purchasing an additional 5,149 shares during the period. Newmont accounts for 3.0% of Palouse Capital Management Inc.'s holdings, making the stock its 4th biggest position. Palouse Capital Management Inc.'s holdings in Newmont were worth $4,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after acquiring an additional 1,847 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Newmont during the 4th quarter worth approximately $7,508,000. Entropy Technologies LP acquired a new position in shares of Newmont during the 4th quarter worth approximately $290,000. Savant Capital LLC increased its holdings in shares of Newmont by 29.6% during the 4th quarter. Savant Capital LLC now owns 14,411 shares of the basic materials company's stock worth $536,000 after acquiring an additional 3,292 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC increased its holdings in shares of Newmont by 3.9% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 14,807 shares of the basic materials company's stock worth $551,000 after acquiring an additional 554 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NEM traded up $1.95 during trading hours on Friday, hitting $57.87. 19,673,056 shares of the company were exchanged, compared to its average volume of 10,371,448. The company has a market cap of $64.41 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 0.41 and a beta of 0.31. Newmont Co. has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm's fifty day moving average is $53.00 and its 200 day moving average is $46.41.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the company earned $0.55 EPS. On average, equities analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.73%. Newmont's dividend payout ratio is currently 22.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NEM shares. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Raymond James reaffirmed an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. Cfra Research raised Newmont to a "strong-buy" rating in a report on Friday, April 25th. Finally, Argus set a $63.00 price objective on Newmont in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $57.68.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the sale, the executive vice president now directly owns 77,526 shares in the company, valued at $4,193,381.34. This represents a 3.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated 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 transaction, the director now owns 45,180 shares of the company's stock, valued at $2,443,786.20. This represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,154 shares of company stock worth $381,539 in the last ninety days. 0.05% of the stock is owned by insiders.

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.