Newmont Co. (NYSE:NEM) Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. boosted its stake in shares of Newmont Co. (NYSE:NEM) by 54.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,721 shares of the basic materials company’s stock after purchasing an additional 27,310 shares during the period. Cullen Frost Bankers Inc.’s holdings in Newmont were worth $3,217,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in Newmont by 27.5% in the 4th quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock worth $7,041,000 after buying an additional 36,645 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Newmont by 22.3% in the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock valued at $5,382,000 after purchasing an additional 26,599 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Newmont by 13.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock worth $32,926,000 after purchasing an additional 94,692 shares during the last quarter. KLCM Advisors Inc. boosted its stake in shares of Newmont by 4.3% during the 4th quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock valued at $17,708,000 after buying an additional 17,791 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Newmont by 70.5% during the fourth quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock worth $3,535,000 after buying an additional 35,303 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NEM has been the topic of a number of research reports. BMO Capital Markets dropped their price target on Newmont from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. StockNews.com upgraded shares of Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. TD Securities raised their price target on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Scotiabank reduced their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. Finally, Argus lowered Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.35.

Newmont Stock Up 0.8 %

NEM stock opened at $41.89 on Thursday. 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 cap of $48.31 billion, a PE ratio of -15.55, a PEG ratio of 0.96 and a beta of 0.48. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $48.41. The company has a fifty day simple moving average of $36.85 and a 200 day simple moving average of $37.01.

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

Newmont Announces Dividend

The firm 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.39%. Newmont’s dividend payout ratio is presently -37.45%.

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.