Newmont Corporation $NEM Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Newmont Corporation (NYSE:NEM) by 267.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 328,197 shares of the basic materials company’s stock after buying an additional 238,900 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Newmont were worth $35,527,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. GoalVest Advisory LLC acquired a new position in Newmont in the fourth quarter valued at approximately $25,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Newmont during the 1st quarter worth approximately $25,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Newmont during the 1st quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in shares of Newmont in the 4th quarter worth approximately $26,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of 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 during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares in the company, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was 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 of the company’s stock, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 sold a total of 28,556 shares of company stock worth $3,058,146 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent research reports. National Bank Financial upped their price objective on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Weiss Ratings cut Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Barclays began coverage on Newmont in a research note on Thursday, May 21st. They issued an “overweight” rating and a $133.00 target price on the stock. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, Royal Bank Of Canada dropped their price objective on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.64.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont welcomed the Government of Canada’s CA$500 million funding commitment for the Red Chris Block Cave project, a move that improves the economics of a key copper-gold development and could extend the mine’s life. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: UBS and Macquarie both reiterated Buy ratings on Newmont, while Bank of America also kept a Buy rating even after cutting its price target to $132, signaling analysts still see upside from current levels. UBS Keeps Their Buy Rating on Newmont Corporation CHESS (NEM)
• Positive Sentiment: Articles highlighting Newmont as undervalued and benefiting from a rebound in gold prices suggest investor interest is rising as the precious-metals trade improves. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Positive Sentiment: Recent trading has shown Newmont outperforming the broader market, with coverage citing renewed momentum in the stock and in gold-related names. Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
• Neutral Sentiment: One valuation piece said Newmont looks close to fair value around the low-$90s, which may limit near-term enthusiasm even though it doesn’t signal a major downside concern. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Negative Sentiment: Despite the recent bounce, Newmont has still been under pressure over the past few months, and Bank of America’s price-target cut reflects some caution about the stock’s longer-term upside. Bank of America price target update on Newmont

Newmont Trading Up 0.0%

NYSE:NEM opened at $95.30 on Monday. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88. The stock has a market cap of $101.74 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.08 and a beta of 0.46. The business has a fifty day moving average of $104.35 and a 200-day moving average of $110.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont (NYSE:NEM) last issued its quarterly 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 company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. Equities analysts predict that Newmont Corporation will post 9.32 earnings per share for the current year.

Newmont Dividend Announcement

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

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.