Newmont Corporation $NEM Stock Holdings Lessened by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its position in Newmont Corporation (NYSE:NEM) by 3.8% during the 4th quarter, HoldingsChannel reports. The firm owned 253,834 shares of the basic materials company’s stock after selling 9,944 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Newmont were worth $25,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. GoalVest Advisory LLC bought a new stake in Newmont in the 4th quarter valued at about $25,000. Physician Wealth Advisors Inc. lifted its position in Newmont by 327.8% in the 3rd 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. Cornerstone Planning Group LLC lifted its position in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares during the last quarter. JPL Wealth Management LLC bought a new stake in Newmont in the 3rd quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in Newmont in the 4th quarter valued at about $28,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

Newmont stock opened at $109.60 on Monday. 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 company has a market cap of $117.01 billion, a P/E ratio of 14.22 and a beta of 0.42. The firm’s 50 day simple moving average is $110.89 and its 200-day simple moving average is $109.10. Newmont Corporation has a fifty-two week low of $51.80 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. The business 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 firm’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. As a group, equities research analysts predict that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced 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 is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont’s payout ratio is 13.49%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NEM. UBS Group cut their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. National Bank Financial raised 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 reissued a “hold” rating and set a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. Canadian Imperial Bank of Commerce lowered their target price on shares of Newmont from $177.00 to $176.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. Finally, BMO Capital Markets raised 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. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $141.53.

Insider Buying and Selling at Newmont

In other Newmont news, insider David James Fry sold 18,394 shares of Newmont stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This trade represents a 9.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 43,068 shares of company stock valued at $4,769,475 over the last three months. 0.06% of the stock is owned by insiders.

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.