Neville Rodie & Shaw Inc. Acquires 3,200 Shares of Newmont Co. (NYSE:NEM)

Neville Rodie & Shaw Inc. boosted its holdings in shares of Newmont Co. (NYSE:NEM) by 19.8% in the first quarter, Holdings Channel reports. The firm owned 19,388 shares of the basic materials company’s stock after purchasing an additional 3,200 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Newmont were worth $936,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. Norges Bank bought a new position in Newmont during the fourth quarter worth about $626,074,000. Voloridge Investment Management LLC bought a new position in Newmont during the fourth quarter worth about $92,693,000. Capital Research Global Investors lifted its stake in Newmont by 70.7% during the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock worth $210,105,000 after purchasing an additional 2,338,953 shares during the period. Renaissance Technologies LLC bought a new position in Newmont during the fourth quarter worth about $76,281,000. Finally, Invesco Ltd. lifted its stake in Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock worth $391,568,000 after purchasing an additional 2,028,150 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.4%

NYSE NEM opened at $52.92 on Thursday. The stock has a fifty day moving average of $51.29 and a 200-day moving average of $45.38. The stock has a market capitalization of $58.90 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same period last year, the firm earned $0.55 EPS. On average, equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, May 27th. Newmont’s dividend payout ratio is presently 22.42%.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the sale, the director now owns 47,257 shares of the company’s stock, valued at approximately $2,432,790.36. The trade was a 4.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares of the company’s stock, valued at $3,782,051.46. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,154 shares of company stock valued at $328,840. Company insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NEM. BMO Capital Markets restated an “outperform” rating on shares of Newmont in a research note on Thursday, April 24th. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $60.00 in a report on Friday, April 11th. National Bankshares reaffirmed a “sector perform” rating on shares of Newmont in a report on Wednesday, April 23rd. Royal Bank of Canada raised their price objective on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a report on Friday, April 4th. Finally, National Bank Financial raised shares of Newmont to a “hold” rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus target price of $56.52.

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.