Franklin Resources Inc. Sells 224,090 Shares of Newmont Corporation $NEM

Franklin Resources Inc. lowered its stake in Newmont Corporation (NYSE:NEM) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,257,684 shares of the basic materials company’s stock after selling 224,090 shares during the quarter. Franklin Resources Inc.’s holdings in Newmont were worth $190,345,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. Physician Wealth Advisors Inc. boosted its position in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. Capital A Wealth Management LLC increased its position in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 478 shares during the last quarter. Caldwell Trust Co bought a new stake in shares of Newmont during the 2nd quarter worth approximately $31,000. Country Trust Bank acquired a new stake in shares of Newmont in the 2nd quarter valued at approximately $32,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Newmont in the 2nd quarter valued at approximately $32,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 1.7%

Shares of NEM opened at $114.26 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $124.30 billion, a PE ratio of 17.88, a P/E/G ratio of 0.90 and a beta of 0.39. The firm’s 50 day moving average is $118.56 and its 200-day moving average is $98.06. Newmont Corporation has a 12 month low of $42.93 and a 12 month high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the prior year, the business posted $1.40 earnings per share. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. Equities research analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd will be issued a dividend of $0.26 per share. This is an increase from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s payout ratio is currently 16.28%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. Royal Bank Of Canada lifted their price objective on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. BNP Paribas Exane boosted their price objective on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. The Goldman Sachs Group upped their target price on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Canaccord Genuity Group lifted their price target on Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $134.15.

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.