Newmont Co. (NYSE:NEM) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in shares of Newmont Co. (NYSE:NEM) by 5.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,520,075 shares of the basic materials company’s stock after acquiring an additional 792,046 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.08% of Newmont worth $704,746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blair William & Co. IL raised its holdings in Newmont by 14.8% in the 1st quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock valued at $3,378,000 after acquiring an additional 5,484 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Newmont by 19.3% in the first quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock valued at $5,219,000 after purchasing an additional 10,692 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Newmont by 46.9% in the first quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock valued at $2,217,000 after purchasing an additional 8,915 shares during the last quarter. Baird Financial Group Inc. boosted its stake in Newmont by 7.2% during the first quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock worth $47,324,000 after buying an additional 39,765 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Newmont by 25.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after buying an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 79.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $39.91, for a total transaction of $439,010.00. Following the completion of the sale, the chief executive officer now owns 256,039 shares in the company, valued at $10,218,516.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $39.91, for a total value of $439,010.00. Following the sale, the chief executive officer now owns 256,039 shares of the company’s stock, valued at $10,218,516.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Robert D. Atkinson sold 5,500 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $39.91, for a total value of $219,505.00. Following the transaction, the chief operating officer now directly owns 76,251 shares of the company’s stock, valued at $3,043,177.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,049 shares of company stock valued at $1,901,528. Insiders own 0.07% of the company’s stock.

Newmont Stock Up 0.8 %

Newmont stock opened at $36.37 on Thursday. The company has a current ratio of 2.12, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $38.10 and its 200-day simple moving average is $40.86. The firm has a market capitalization of $28.91 billion, a P/E ratio of -35.31, a P/E/G ratio of 2.17 and a beta of 0.41. Newmont Co. has a twelve month low of $33.58 and a twelve month high of $60.08.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 26th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $3.20 billion. Newmont had a positive return on equity of 6.28% and a negative net margin of 7.35%. As a group, equities analysts expect that Newmont Co. will post 1.78 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Thursday, November 30th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.60 annualized dividend and a yield of 4.40%. Newmont’s dividend payout ratio (DPR) is -155.34%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Newmont from $44.00 to $38.00 and set a “hold” rating on the stock in a research report on Wednesday, October 4th. BMO Capital Markets restated an “outperform” rating and set a $58.00 price target (down previously from $65.00) on shares of Newmont in a report on Tuesday, November 7th. Canaccord Genuity Group decreased their price objective on Newmont from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, July 24th. UBS Group cut their target price on Newmont from $53.00 to $42.00 and set a “neutral” rating for the company in a research note on Tuesday, August 29th. Finally, Argus lowered their price target on Newmont from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, July 25th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.05.

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, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.