Charles Schwab Investment Management Inc. Acquires 7,635,657 Shares of Newmont Co. (NYSE:NEM)

Charles Schwab Investment Management Inc. lifted its position in Newmont Co. (NYSE:NEM - Free Report) by 44.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,639,109 shares of the basic materials company's stock after acquiring an additional 7,635,657 shares during the quarter. Charles Schwab Investment Management Inc. owned 3.10% of Newmont worth $1,019,813,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in Newmont by 27.5% during the fourth quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company's stock valued at $7,041,000 after purchasing an additional 36,645 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Newmont by 22.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company's stock valued at $5,382,000 after buying an additional 26,599 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Newmont by 13.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company's stock worth $32,926,000 after acquiring an additional 94,692 shares during the period. KLCM Advisors Inc. lifted its holdings in Newmont by 4.3% in the fourth quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company's stock worth $17,708,000 after acquiring an additional 17,791 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Newmont by 70.5% in the fourth quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company's stock valued at $3,535,000 after acquiring an additional 35,303 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on NEM. Royal Bank of Canada cut their price target on Newmont from $45.00 to $40.00 and set a "sector perform" rating on the stock in a report on Thursday, February 8th. Citigroup reduced their price target on shares of Newmont from $60.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, April 4th. Jefferies Financial Group assumed coverage on shares of Newmont in a report on Thursday, February 29th. They issued a "buy" rating and a $38.00 price objective on the stock. BMO Capital Markets decreased their target price on shares of Newmont from $56.00 to $54.00 and set an "outperform" rating for the company in a research report on Thursday, May 2nd. Finally, Argus lowered shares of Newmont from a "buy" rating to a "hold" rating in a research note on Monday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and a consensus target price of $48.35.

Newmont Price Performance

NYSE:NEM traded up $0.09 during mid-day trading on Wednesday, reaching $41.53. 7,840,133 shares of the stock were exchanged, compared to its average volume of 13,424,206. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $48.56. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $47.89 billion, a PE ratio of -15.47, a PEG ratio of 0.96 and a beta of 0.48. The business has a fifty day moving average price of $36.85 and a 200 day moving average price of $37.01.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.20. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business's revenue for the quarter was up 50.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. Research analysts expect that Newmont Co. will post 2.32 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Tuesday, June 4th. Newmont's dividend payout ratio is presently -37.45%.

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.