Newmont Corporation $NEM is PKO Investment Management Joint Stock Co’s 6th Largest Position

PKO Investment Management Joint Stock Co raised its holdings in shares of Newmont Corporation (NYSE:NEM) by 15.3% during the first quarter, Holdings Channel.com reports. The fund owned 332,134 shares of the basic materials company’s stock after buying an additional 44,181 shares during the period. Newmont accounts for approximately 3.0% of PKO Investment Management Joint Stock Co’s portfolio, making the stock its 6th largest position. PKO Investment Management Joint Stock Co’s holdings in Newmont were worth $35,954,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. GoalVest Advisory LLC purchased a new stake in shares of Newmont during the fourth quarter worth about $25,000. Swiss RE Ltd. purchased a new position in Newmont in the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC lifted its holdings in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares in the last quarter. JPL Wealth Management LLC bought a new position in Newmont in the 3rd quarter worth approximately $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Newmont during the 4th quarter valued at approximately $28,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the sale, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their position. The sale was disclosed in a 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Wexler sold 13,378 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last quarter, insiders sold 28,556 shares of company stock valued at $3,120,276. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Down 1.9%

Shares of NEM opened at $101.78 on Tuesday. The stock has a market capitalization of $108.65 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88. The business’s 50 day simple moving average is $109.68 and its 200-day simple moving average is $110.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the prior year, the company earned $1.25 EPS. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, equities analysts expect 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 was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is 13.49%.

Analyst Ratings Changes

Several research firms have recently issued reports on NEM. TD lifted their price objective on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research report on Monday, April 27th. UBS Group dropped their target price on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, March 27th. BNP Paribas Exane cut their target price on shares of Newmont from $128.00 to $111.00 and set a “neutral” rating for the company in a research note on Thursday, June 18th. Macquarie Infrastructure reduced their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. Finally, Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.98.

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.