Franklin Resources Inc. Has $242.87 Million Stake in Newmont Corporation $NEM

Franklin Resources Inc. raised its position in shares of Newmont Corporation (NYSE:NEM) by 7.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,432,311 shares of the basic materials company’s stock after acquiring an additional 174,627 shares during the period. Franklin Resources Inc.’s holdings in Newmont were worth $242,866,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GoalVest Advisory LLC acquired a new stake in shares of Newmont during the fourth quarter worth approximately $25,000. Cornerstone Planning Group LLC increased its holdings in shares of Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of Newmont during the fourth quarter worth approximately $28,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Newmont during the fourth quarter worth approximately $30,000. Finally, Rosenberg Matthew Hamilton increased its holdings in shares of Newmont by 308.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock worth $31,000 after buying an additional 231 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $315,960.00. Following the transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 49,950 shares of company stock valued at $5,494,288. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Royal Bank Of Canada lowered their price target on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. BNP Paribas Exane raised their price target on shares of Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Canadian Imperial Bank of Commerce set a $175.00 price target on shares of Newmont and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, TD raised their price target on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.26.

Newmont Stock Performance

Shares of Newmont stock opened at $98.55 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The firm has a market cap of $105.20 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.64 and a beta of 0.42. The firm has a 50 day simple moving average of $111.63 and a 200 day simple moving average of $109.87. Newmont Corporation has a fifty-two week low of $52.31 and a fifty-two week high of $134.88.

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

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date of this dividend 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 presently 13.49%.

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.