Edmond DE Rothschild Holding S.A. Has $19.33 Million Stake in Newmont Corporation $NEM

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in Newmont Corporation (NYSE:NEM) by 169.2% during the first quarter, acquiring an additional 251,682 shares for a total valuation of $19,334,000.
• Analyst ratings on Newmont have been mixed, with Macquarie downgrading the stock to a "hold" and Stifel Canada raising it to a "strong-buy"; the consensus rating remains a "Moderate Buy" with a price target of $65.15.
• Newmont recently announced a quarterly dividend of $0.25 per share, representing an annualized total of $1.00 and a yield of 1.3%, set to be paid on September 29th.

Edmond DE Rothschild Holding S.A. increased its position in Newmont Corporation (NYSE:NEM - Free Report) by 169.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400,462 shares of the basic materials company's stock after buying an additional 251,682 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Newmont were worth $19,334,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NEM. Nuveen LLC acquired a new stake in shares of Newmont in the first quarter valued at $306,507,000. Pacer Advisors Inc. lifted its holdings in shares of Newmont by 4,203.5% in the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock valued at $259,580,000 after buying an additional 5,251,616 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Newmont during the fourth quarter valued at $92,693,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Newmont by 1,074.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company's stock valued at $116,416,000 after purchasing an additional 2,206,017 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Newmont during the fourth quarter valued at $75,435,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Down 0.4%

Newmont stock traded down $0.33 during mid-day trading on Monday, hitting $75.84. The company's stock had a trading volume of 10,094,163 shares, compared to its average volume of 11,663,262. The firm's 50 day moving average is $65.61 and its 200 day moving average is $56.06. The company has a market cap of $83.30 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 0.92 and a beta of 0.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. Newmont Corporation has a 52-week low of $36.86 and a 52-week high of $77.30.

Newmont (NYSE:NEM - Get Free Report) last announced 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 return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the business earned $0.72 EPS. The business's revenue for the quarter was up 20.8% on a year-over-year basis. On average, analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio is presently 17.95%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NEM shares. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Royal Bank Of Canada upped their target price on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. UBS Group upped their target price on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Raymond James Financial upped 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. Finally, Scotiabank increased their price objective on Newmont from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $65.15.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president directly owned 58,736 shares of the company's stock, valued at $3,739,133.76. This represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,246 shares of company stock valued at $1,253,559 in the last three months. Insiders own 0.05% of the company's stock.

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.