Charles Schwab Investment Management Inc. Increases Stake in Newmont Co. (NYSE:NEM)

Charles Schwab Investment Management Inc. grew its position in Newmont Co. (NYSE:NEM) by 44.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 about 3.10% of Newmont worth $1,019,813,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Van ECK Associates Corp grew its holdings in shares of Newmont by 57.2% in the fourth quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock worth $2,122,913,000 after purchasing an additional 18,664,614 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Newmont by 17.6% in the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after purchasing an additional 12,360,775 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Newmont by 61.1% in the third quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company’s stock worth $196,706,000 after purchasing an additional 2,019,591 shares during the last quarter. Swiss National Bank grew its holdings in shares of Newmont by 41.0% in the fourth quarter. Swiss National Bank now owns 3,603,805 shares of the basic materials company’s stock worth $149,161,000 after purchasing an additional 1,047,645 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Newmont by 36.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,272,175 shares of the basic materials company’s stock worth $135,435,000 after purchasing an additional 868,804 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. 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 target on the stock. BMO Capital Markets cut their price target on shares of Newmont from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Finally, Scotiabank dropped their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.35.

Newmont Stock Up 0.7 %

Shares of NYSE:NEM traded up $0.30 during trading on Wednesday, reaching $41.74. The stock had a trading volume of 3,422,016 shares, compared to its average volume of 13,377,386. Newmont Co. has a one year low of $29.42 and a one year high of $48.56. The company has a market capitalization of $48.13 billion, a P/E ratio of -15.47, a PEG ratio of 0.96 and a beta of 0.48. 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’s 50-day simple moving average is $36.85 and its 200 day simple moving average is $37.01.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. Newmont’s revenue was up 50.2% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. As a group, research analysts expect that Newmont Co. will post 2.32 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s payout ratio is currently -37.45%.

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.