Cullen Frost Bankers Inc. Boosts Stock Position in Newmont Corporation (NYSE:NEM)

Cullen Frost Bankers Inc. grew its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 5.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 232,910 shares of the basic materials company's stock after buying an additional 12,770 shares during the period. Cullen Frost Bankers Inc.'s holdings in Newmont were worth $11,245,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NEM. Heathbridge Capital Management Ltd. raised its position in Newmont by 19.8% in the 1st quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company's stock worth $497,000 after buying an additional 1,700 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Newmont by 18.8% during the 1st quarter. Victory Capital Management Inc. now owns 2,440,719 shares of the basic materials company's stock valued at $117,838,000 after acquiring an additional 386,082 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in shares of Newmont by 5.7% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 291,891 shares of the basic materials company's stock valued at $14,092,000 after acquiring an additional 15,618 shares during the period. Larson Financial Group LLC boosted its stake in Newmont by 22.0% in the 1st quarter. Larson Financial Group LLC now owns 3,866 shares of the basic materials company's stock worth $187,000 after purchasing an additional 696 shares during the period. Finally, Sage Mountain Advisors LLC boosted its stake in Newmont by 50.5% in the 1st quarter. Sage Mountain Advisors LLC now owns 8,879 shares of the basic materials company's stock worth $429,000 after purchasing an additional 2,979 shares during the period. Institutional investors own 68.85% of the company's stock.

Insider Transactions at Newmont

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

Analyst Upgrades and Downgrades

NEM has been the subject of a number of research reports. Argus set a $63.00 target price on Newmont in a research report on Friday, April 25th. Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Raymond James Financial restated an "outperform" rating and set a $66.00 price target on shares of Newmont in a research note on Friday, April 25th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $62.49.

Newmont Stock Down 0.8%

Shares of NEM stock traded down $0.45 during trading hours on Thursday, reaching $58.00. 13,667,467 shares of the company's stock were exchanged, compared to its average volume of 10,797,938. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $61.17. The stock has a market cap of $64.55 billion, a PE ratio of 13.00, a PEG ratio of 0.66 and a beta of 0.33. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. The stock's fifty day moving average price is $55.64 and its two-hundred day moving average price is $49.34.

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, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is 22.42%.

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.