Strs Ohio Sells 14,510 Shares of Newmont Corporation $NEM

Strs Ohio decreased its holdings in shares of Newmont Corporation (NYSE:NEM) by 4.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 308,353 shares of the basic materials company’s stock after selling 14,510 shares during the quarter. Strs Ohio’s holdings in Newmont were worth $33,379,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. GoalVest Advisory LLC bought a new position in shares of Newmont in the 4th quarter valued at about $25,000. Pinnacle Bancorp Inc. bought a new stake in Newmont during the first quarter worth about $25,000. Swiss RE Ltd. bought a new stake in Newmont during the fourth quarter worth about $26,000. Cornerstone Planning Group LLC boosted its position in Newmont by 312.1% during the fourth 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. Finally, JPL Wealth Management LLC bought a new position in Newmont in the third quarter valued at approximately $27,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on NEM. Weiss Ratings lowered Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. TD raised their target price on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 27th. TD Cowen restated a “buy” rating on shares of Newmont in a report on Monday, April 27th. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Finally, The Goldman Sachs Group dropped their price target on shares of Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus price target of $139.35.

Newmont Stock Performance

Shares of NYSE NEM opened at $96.95 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $103.50 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.61 and a beta of 0.46. Newmont Corporation has a 12 month low of $55.37 and a 12 month high of $134.88. The stock has a 50 day moving average of $106.12 and a 200-day moving average of $110.78.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the firm posted $1.25 EPS. The company’s quarterly revenue was up 45.8% on a year-over-year basis. As a group, equities research analysts predict that Newmont Corporation will post 9.87 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

Insider Activity at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of the firm’s 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 directly owned 23,163 shares in the company, valued at $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 25,556 shares of company stock worth $2,781,006. 0.06% of the stock is currently owned by corporate insiders.

Newmont Company 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.