Commerzbank Aktiengesellschaft FI Buys 10,590 Shares of Newmont Co. (NYSE:NEM)

Commerzbank Aktiengesellschaft FI increased its position in shares of Newmont Co. (NYSE:NEM) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 471,085 shares of the basic materials company’s stock after buying an additional 10,590 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Newmont were worth $19,724,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC increased its position in shares of Newmont by 171.9% during the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 397 shares during the period. LRI Investments LLC bought a new stake in Newmont in the 1st quarter valued at $25,000. Heritage Wealth Advisors raised its stake in shares of Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Newmont during the 1st quarter valued at about $35,000. Finally, Advantage Trust Co acquired a new stake in shares of Newmont during the 4th quarter valued at about $41,000. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on NEM. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. Bank of America increased their price objective on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.92.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the transaction, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at $13,964,788.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Up 0.5 %

Shares of NYSE NEM traded up $0.26 during mid-day trading on Tuesday, hitting $51.45. The company’s stock had a trading volume of 6,285,375 shares, compared to its average volume of 10,902,975. The company’s fifty day simple moving average is $45.70 and its 200-day simple moving average is $40.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a one year low of $29.42 and a one year high of $52.07. The stock has a market cap of $59.33 billion, a price-to-earnings ratio of -19.27, a price-to-earnings-growth ratio of 0.37 and a beta of 0.47.

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

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend 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.