Parkside Financial Bank & Trust Buys 10,446 Shares of Newmont Co. (NYSE:NEM)

Parkside Financial Bank & Trust raised its position in shares of Newmont Co. (NYSE:NEM) by 482.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,611 shares of the basic materials company’s stock after purchasing an additional 10,446 shares during the period. Parkside Financial Bank & Trust’s holdings in Newmont were worth $522,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Newmont by 17.6% during the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after buying an additional 12,360,775 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Newmont by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock valued at $628,278,000 after purchasing an additional 483,377 shares during the period. Northern Trust Corp increased its holdings in Newmont by 5.7% in the third quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company’s stock valued at $381,203,000 after purchasing an additional 554,513 shares during the period. Invesco Ltd. increased its holdings in Newmont by 5.8% in the third quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company’s stock valued at $289,232,000 after purchasing an additional 428,537 shares during the period. Finally, Legal & General Group Plc boosted its position in Newmont by 0.5% during the third quarter. Legal & General Group Plc now owns 6,470,393 shares of the basic materials company’s stock valued at $239,205,000 after acquiring an additional 34,651 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance

NEM traded up $0.16 on Tuesday, hitting $37.62. The company’s stock had a trading volume of 8,109,524 shares, compared to its average volume of 13,465,132. The company’s 50 day simple moving average is $34.90 and its 200-day simple moving average is $36.86. The firm has a market cap of $43.37 billion, a P/E ratio of -15.55, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $50.18. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. Analysts forecast that Newmont Co. will post 1.98 EPS for the current year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.66%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio is presently -42.02%.

Analysts Set New Price Targets

NEM has been the topic of a number of research analyst reports. Scotiabank cut their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Jefferies Financial Group began coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. StockNews.com cut shares of Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Royal Bank of Canada dropped their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Finally, BMO Capital Markets dropped their price target on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Newmont presently has a consensus rating of “Hold” and a consensus target price of $50.89.

Newmont 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.