Newmont Co. (NYSE:NEM) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in shares of Newmont Co. (NYSE:NEM) by 21.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 69,864 shares of the basic materials company’s stock after buying an additional 12,549 shares during the period. Fifth Third Bancorp’s holdings in Newmont were worth $2,925,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NEM. Vanguard Group Inc. boosted its stake in Newmont by 13.6% in the first quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after acquiring an additional 16,190,422 shares in the last quarter. Van ECK Associates Corp grew its stake in Newmont by 57.2% during the 4th quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock worth $2,122,913,000 after buying an additional 18,664,614 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Newmont by 44.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock worth $1,019,813,000 after buying an additional 7,635,657 shares during the period. First Eagle Investment Management LLC lifted its stake in Newmont by 29.9% in the fourth quarter. First Eagle Investment Management LLC now owns 23,756,158 shares of the basic materials company’s stock valued at $983,267,000 after buying an additional 5,475,155 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Newmont by 39.8% in the first quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock valued at $832,354,000 after buying an additional 6,617,145 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NYSE:NEM traded up $0.42 during trading hours on Wednesday, hitting $51.87. The company’s stock had a trading volume of 5,110,356 shares, compared to its average volume of 10,867,036. The company has a market capitalization of $59.81 billion, a PE ratio of -19.26, a PEG ratio of 0.37 and a beta of 0.47. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $52.07. The business’s 50-day moving average is $45.70 and its two-hundred day moving average is $40.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business’s revenue was up 64.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. As a group, research analysts anticipate that Newmont Co. will post 2.76 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.93%. Newmont’s payout ratio is -37.45%.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and increased their target price for the stock from $46.00 to $61.00 in a research note on Wednesday, July 10th. National Bank Financial cut Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Finally, UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and lifted their target price for the company from $40.00 to $50.00 in a research note on Monday, June 17th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.92.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.

About Newmont

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.