City State Bank Has $78,000 Stock Holdings in Newmont Co. (NYSE:NEM)

City State Bank increased its position in Newmont Co. (NYSE:NEM) by 1,176.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,170 shares of the basic materials company’s stock after purchasing an additional 2,000 shares during the quarter. City State Bank’s holdings in Newmont were worth $78,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NEM. Life Planning Partners Inc bought a new position in shares of Newmont during the 4th quarter worth approximately $26,000. Manchester Capital Management LLC grew its position in shares of Newmont by 171.9% during the 4th 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 in the last quarter. CVA Family Office LLC bought a new stake in shares of Newmont during the 4th quarter worth $34,000. Advantage Trust Co bought a new stake in shares of Newmont during the 4th quarter worth $41,000. Finally, Rise Advisors LLC lifted its stake in Newmont by 2,373.2% in the first quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 973 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on NEM. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Scotiabank boosted their price target on shares of Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $50.00 in a research note on Monday, June 17th. TD Securities boosted their price target on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.07.

Newmont Trading Down 1.3 %

Shares of NYSE NEM traded down $0.55 during midday trading on Friday, hitting $42.26. 16,655,639 shares of the company traded hands, compared to its average volume of 6,810,263. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $45.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The stock has a 50-day moving average price of $41.33 and a 200 day moving average price of $38.01. The firm has a market cap of $48.73 billion, a P/E ratio of -15.83, a P/E/G ratio of 0.37 and a beta of 0.52.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business’s revenue was up 50.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, analysts expect that Newmont Co. will post 2.42 earnings per share for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s payout ratio is -37.45%.

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.