Northern Trust Corp Purchases 1,309,177 Shares of Newmont Co. (NYSE:NEM)

Northern Trust Corp lifted its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,742,155 shares of the basic materials company's stock after buying an additional 1,309,177 shares during the quarter. Northern Trust Corp owned about 1.12% of Newmont worth $474,263,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Van ECK Associates Corp raised its position in shares of Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock worth $1,851,606,000 after purchasing an additional 797,445 shares during the period. Geode Capital Management LLC raised its holdings in Newmont by 5.2% during the fourth 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 bought a new position in shares of Newmont in the fourth quarter valued at $626,074,000. Amundi grew its holdings in shares of Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after buying an additional 1,507,708 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after acquiring an additional 2,028,150 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

Shares of NEM stock traded up $0.01 during trading on Friday, reaching $51.50. 8,802,796 shares of the company's stock traded hands, compared to its average volume of 9,835,659. Newmont Co. has a 1 year low of $36.86 and a 1 year high of $58.72. The company has a market capitalization of $58.05 billion, a P/E ratio of 17.58, a PEG ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm's 50-day moving average is $48.42 and its 200 day moving average is $45.15.

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

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.94%. Newmont's dividend payout ratio is currently 22.42%.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the sale, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the transaction, the director now directly owns 49,993 shares in the company, valued at approximately $2,144,199.77. This represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,154 shares of company stock valued at $825,678. Company insiders own 0.05% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on NEM. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Argus set a $63.00 price target on Newmont in a report on Friday, April 25th. Scotiabank restated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. Royal Bank of Canada upped their target price on shares of Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. Finally, The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, January 13th. They set a "buy" rating and a $47.20 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus target price of $55.63.

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.