State of Wyoming Makes New Investment in Newmont Corporation $NEM

State of Wyoming acquired a new stake in Newmont Corporation (NYSE:NEM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,745 shares of the basic materials company’s stock, valued at approximately $537,000.

Several other large investors have also recently made changes to their positions in NEM. Vanguard Group Inc. boosted its stake in Newmont by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock valued at $13,390,613,000 after acquiring an additional 637,996 shares during the last quarter. State Street Corp increased its stake in shares of Newmont by 1.0% during the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock worth $4,988,491,000 after purchasing an additional 480,223 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after purchasing an additional 5,643,496 shares during the period. Geode Capital Management LLC raised its holdings in shares of Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after purchasing an additional 946,824 shares during the period. Finally, Norges Bank purchased a new position in Newmont in the fourth quarter valued at approximately $1,443,128,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEM has been the subject of several research reports. Bank of America reduced their price objective on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Royal Bank Of Canada lowered their target price on Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. The Goldman Sachs Group cut their price target on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Canadian Imperial Bank of Commerce set a $170.00 price objective on Newmont in a report on Friday. Finally, Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.59.

Newmont Stock Up 2.2%

Shares of NYSE NEM opened at $120.35 on Tuesday. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The company has a market cap of $126.81 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.31 and a beta of 0.47. Newmont Corporation has a 52 week low of $67.20 and a 52 week high of $134.88. The business has a 50-day simple moving average of $99.36 and a two-hundred day simple moving average of $108.81.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the prior year, the firm posted $1.43 earnings per share. Research analysts anticipate that Newmont Corporation will post 9 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Insider Buying and Selling at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total value of $280,350.00. Following the transaction, the executive vice president owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. The trade was a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,091 shares of company stock valued at $3,292,513 in the last three months. Company insiders own 0.06% of the company’s stock.

Newmont Profile

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.