Chevy Chase Trust Holdings LLC Has $27.39 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Chevy Chase Trust Holdings LLC increased its holdings in shares of Newmont Co. (NYSE:NEM) by 3.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 764,314 shares of the basic materials company’s stock after purchasing an additional 28,407 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Newmont were worth $27,393,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Grey Street Capital LLC boosted its holdings in shares of Newmont by 0.4% in the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after acquiring an additional 289 shares during the period. Moody National Bank Trust Division lifted its holdings in shares of Newmont by 1.7% in the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock worth $647,000 after buying an additional 296 shares in the last quarter. Reitz Capital Advisors LLC grew its position in shares of Newmont by 1.1% during the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after purchasing an additional 298 shares in the last quarter. Berkeley Capital Partners LLC increased its stake in Newmont by 5.6% in the 4th quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock worth $247,000 after acquiring an additional 318 shares during the last quarter. Finally, Crestmont Private Wealth LLC raised its stake in Newmont by 4.9% in the first quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock valued at $246,000 after purchasing an additional 319 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NEM. JPMorgan Chase & Co. downgraded Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday. Citigroup dropped their target price on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. BMO Capital Markets lowered their price objective on Newmont from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. National Bank Financial lowered shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Finally, CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and increased their target price for the stock from $46.00 to $61.00 in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.07.

Newmont Stock Up 3.8 %

NYSE:NEM traded up $1.66 during trading hours on Wednesday, reaching $45.55. 4,771,459 shares of the company traded hands, compared to its average volume of 11,582,517. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $45.92. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average price is $42.07 and its two-hundred day moving average price is $38.19. The stock has a market capitalization of $52.53 billion, a P/E ratio of -17.16, a P/E/G ratio of 0.37 and a beta of 0.47.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. Newmont’s revenue was up 50.2% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. Analysts predict that Newmont Co. will post 2.48 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.20%. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the sale, 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

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.