State of Alaska Department of Revenue Has $9.90 Million Stock Holdings in Newmont Corporation $NEM

State of Alaska Department of Revenue lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 6.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 117,389 shares of the basic materials company’s stock after selling 7,584 shares during the quarter. State of Alaska Department of Revenue’s holdings in Newmont were worth $9,897,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEM. Nisa Investment Advisors LLC increased its position in Newmont by 15.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 131,716 shares of the basic materials company’s stock valued at $11,105,000 after buying an additional 17,151 shares in the last quarter. Abbington Investment Group acquired a new stake in Newmont in the third quarter valued at approximately $1,300,000. Strategic Planning Group LLC acquired a new stake in Newmont in the third quarter valued at approximately $7,765,000. Independent Solutions Wealth Management LLC increased its holdings in shares of Newmont by 8.2% during the third quarter. Independent Solutions Wealth Management LLC now owns 14,988 shares of the basic materials company’s stock valued at $1,264,000 after acquiring an additional 1,139 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its position in shares of Newmont by 23.6% during the third quarter. Benjamin Edwards Inc. now owns 13,309 shares of the basic materials company’s stock worth $1,122,000 after purchasing an additional 2,545 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,160 shares of company stock valued at $767,206 over the last ninety days. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Performance

Shares of NEM stock opened at $108.99 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm has a 50-day moving average of $94.34 and a 200-day moving average of $80.57. Newmont Corporation has a one year low of $38.53 and a one year high of $109.30. The company has a market cap of $118.94 billion, a P/E ratio of 16.92, a P/E/G ratio of 0.79 and a beta of 0.41.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. Equities research analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. TD Securities lifted their price target on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. CIBC set a $112.00 price objective on shares of Newmont and gave the company an “outperformer” rating in a research note on Friday, October 10th. BNP Paribas downgraded shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a research report on Friday, December 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Finally, UBS Group raised their price target on shares of Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Newmont currently has a consensus rating of “Buy” and a consensus target price of $97.08.

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.