Franklin Resources Inc. Acquires 174,627 Shares of Newmont Corporation $NEM

Franklin Resources Inc. boosted its holdings in shares of Newmont Corporation (NYSE:NEM) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,432,311 shares of the basic materials company’s stock after purchasing an additional 174,627 shares during the quarter. Franklin Resources Inc. owned about 0.22% of Newmont worth $242,866,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC boosted its stake in Newmont by 28.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 328,132 shares of the basic materials company’s stock valued at $32,764,000 after purchasing an additional 72,848 shares during the period. CenterBook Partners LP boosted its stake in Newmont by 129.0% during the 4th quarter. CenterBook Partners LP now owns 16,180 shares of the basic materials company’s stock valued at $1,616,000 after purchasing an additional 9,113 shares during the period. IMA Advisory Services Inc. boosted its stake in Newmont by 26,200.0% during the 4th quarter. IMA Advisory Services Inc. now owns 526 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 524 shares during the period. Syon Capital LLC lifted its stake in shares of Newmont by 5.8% in the fourth quarter. Syon Capital LLC now owns 8,042 shares of the basic materials company’s stock valued at $803,000 after buying an additional 440 shares during the period. Finally, ING Groep NV bought a new stake in shares of Newmont in the fourth quarter valued at about $21,283,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NEM. Royal Bank Of Canada reduced their target price on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. National Bank Financial increased their target price on shares of Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. TD Securities reiterated a “hold” rating and issued a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. BMO Capital Markets increased their target price on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, TD increased their target price on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.26.

Newmont Stock Down 0.4%

Shares of NEM opened at $98.55 on Wednesday. The stock has a market cap of $105.20 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.64 and a beta of 0.42. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $52.31 and a 12 month high of $134.88. The company has a 50-day moving average price of $111.63 and a two-hundred day moving average price of $109.87.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. Equities analysts predict that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the transaction, the executive vice president owned 46,315 shares in the company, valued at $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the transaction, the insider owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 49,950 shares of company stock valued at $5,494,288. 0.06% of the stock is owned by company insiders.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long?lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.