Pekin Hardy Strauss Inc. Increases Stock Position in Newmont Co. (NYSE:NEM)

Pekin Hardy Strauss Inc. lifted its holdings in Newmont Co. (NYSE:NEM) by 2.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,561 shares of the basic materials company’s stock after purchasing an additional 333 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Newmont were worth $1,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp lifted its position in shares of Newmont by 0.6% in the 2nd quarter. Van ECK Associates Corp now owns 39,930,538 shares of the basic materials company’s stock worth $2,530,797,000 after purchasing an additional 253,225 shares during the period. Deutsche Bank AG lifted its position in Newmont by 3.5% during the second quarter. Deutsche Bank AG now owns 20,487,134 shares of the basic materials company’s stock valued at $1,298,473,000 after acquiring an additional 700,182 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Newmont by 0.5% during the first quarter. First Eagle Investment Management LLC now owns 18,462,145 shares of the basic materials company’s stock valued at $1,112,713,000 after acquiring an additional 95,801 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Newmont by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 9,730,827 shares of the basic materials company’s stock valued at $616,739,000 after acquiring an additional 99,171 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Newmont by 12.1% during the first quarter. Nuveen Asset Management LLC now owns 6,153,038 shares of the basic materials company’s stock valued at $370,844,000 after acquiring an additional 665,126 shares during the last quarter. 77.76% of the stock is owned by hedge funds and other institutional investors.

NYSE:NEM opened at $53.87 on Friday. The firm has a market capitalization of $43.05 billion, a P/E ratio of 15.09 and a beta of 0.23. Newmont Co. has a 1-year low of $53.52 and a 1-year high of $75.31. The company’s fifty day moving average price is $58.43 and its 200-day moving average price is $62.96. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 2.33.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 22nd. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.07. Newmont had a net margin of 23.00% and a return on equity of 11.78%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. Equities analysts anticipate that Newmont Co. will post 3.55 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 23rd. Investors of record on Thursday, September 9th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend was Wednesday, September 8th. Newmont’s dividend payout ratio (DPR) is presently 82.71%.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Newmont from a “hold” rating to a “sell” rating and set a $63.00 target price for the company. in a research report on Tuesday, July 27th. Raymond James set a $82.00 target price on shares of Newmont and gave the company an “outperform” rating in a research report on Friday, July 23rd. National Bank Financial cut their price target on shares of Newmont from C$108.00 to C$105.00 and set an “outperform” rating on the stock in a research note on Friday, July 16th. Canaccord Genuity cut their price target on shares of Newmont from $74.00 to $71.00 and set a “buy” rating on the stock in a research note on Friday, July 23rd. Finally, UBS Group set a $64.00 price target on shares of Newmont and gave the company a “neutral” rating in a research note on Friday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Hold” and an average price target of $72.63.

In other Newmont news, EVP Dean Gehring sold 2,991 shares of the stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $60.00, for a total transaction of $179,460.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Blake Rhodes sold 500 shares of the stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $64.00, for a total transaction of $32,000.00. Following the transaction, the senior vice president now directly owns 50,311 shares in the company, valued at $3,219,904. The disclosure for this sale can be found here. Insiders have sold 25,588 shares of company stock worth $1,610,567 over the last three months. 0.12% of the stock is currently owned by insiders.

Newmont Company Profile

Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.

Read More: Yield Curve

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Co. (NYSE:NEM).

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.