Rhumbline Advisers Raises Stock Holdings in Newmont Co. (NYSE:NEM)

Rhumbline Advisers boosted its stake in Newmont Co. (NYSE:NEM - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,977,465 shares of the basic materials company's stock after acquiring an additional 46,871 shares during the period. Rhumbline Advisers owned 0.18% of Newmont worth $95,472,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NEM. Van ECK Associates Corp boosted its holdings in Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock worth $1,851,606,000 after acquiring an additional 797,445 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after buying an additional 1,213,397 shares during the last quarter. Norges Bank purchased a new stake in shares of Newmont in the 4th quarter valued at $626,074,000. Northern Trust Corp boosted its holdings in Newmont by 11.5% during the 4th 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, Amundi increased its position in shares of Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after acquiring an additional 1,507,708 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada boosted their price target on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Wednesday. Raymond James restated an "outperform" rating and set a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and increased their target price for the company from $50.00 to $60.00 in a research report on Friday, April 11th. Finally, National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Newmont presently has an average rating of "Moderate Buy" and a consensus price target of $57.68.

Newmont Stock Performance

NEM traded down $0.70 during trading on Thursday, hitting $54.58. 5,349,748 shares of the stock were exchanged, compared to its average volume of 10,172,879. The stock has a fifty day moving average price of $51.96 and a two-hundred day moving average price of $45.83. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The firm has a market capitalization of $60.74 billion, a P/E ratio of 18.62, a PEG ratio of 0.41 and a beta of 0.31. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $0.55 earnings per share. As a group, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.83%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the transaction, the executive vice president now owns 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $112,344.93. Following the transaction, the director now directly owns 45,180 shares of the company's stock, valued at $2,443,786.20. This trade represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,154 shares of company stock worth $381,539. 0.05% of the stock is owned by corporate 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.