Frank Rimerman Advisors LLC Acquires 10,345 Shares of Newmont Co. (NYSE:NEM)

Frank Rimerman Advisors LLC boosted its holdings in shares of Newmont Co. (NYSE:NEM) by 17,241.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 10,405 shares of the basic materials company’s stock after acquiring an additional 10,345 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Newmont were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of NEM. Vanguard Group Inc. raised its stake in Newmont by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 134,940,345 shares of the basic materials company’s stock valued at $4,836,262,000 after acquiring an additional 16,190,422 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Newmont by 2.6% during the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock worth $2,131,939,000 after buying an additional 1,289,084 shares during the period. Bank of New York Mellon Corp grew its stake in Newmont by 39.8% in the 1st quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock valued at $832,354,000 after buying an additional 6,617,145 shares during the last quarter. Northern Trust Corp raised its holdings in Newmont by 25.9% in the 4th quarter. Northern Trust Corp now owns 12,988,497 shares of the basic materials company’s stock valued at $537,594,000 after acquiring an additional 2,671,774 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock worth $289,445,000 after acquiring an additional 545,903 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of a number of recent research reports. UBS Group increased their target price on Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Thursday, August 29th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $48.00 to $59.00 in a research report on Monday, August 19th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Finally, Bank of America raised their target price on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $52.62.

Newmont Stock Performance

NYSE:NEM opened at $55.85 on Wednesday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $56.09. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $50.40 and its 200 day simple moving average is $43.91. The firm has a market capitalization of $64.40 billion, a PE ratio of -20.92, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm’s revenue was up 64.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. On average, analysts anticipate that Newmont Co. will post 2.82 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is -37.45%.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The disclosure for this sale can be found here. Insiders have sold 56,000 shares of company stock worth $2,744,700 in the last 90 days. Insiders own 0.06% of the company’s stock.

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, Papua New Guinea, Ecuador, Fiji, and Ghana.