Public Employees Retirement System of Ohio Sells 25,320 Shares of Newmont Corporation $NEM

Public Employees Retirement System of Ohio trimmed its holdings in Newmont Corporation (NYSE:NEM) by 5.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 431,341 shares of the basic materials company’s stock after selling 25,320 shares during the period. Public Employees Retirement System of Ohio’s holdings in Newmont were worth $40,287,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Newmont during the 2nd quarter worth about $11,289,753,000. State Street Corp increased its holdings in shares of Newmont by 1.0% during the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after acquiring an additional 480,223 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after acquiring an additional 5,643,496 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after purchasing an additional 946,824 shares during the last quarter. Finally, Norges Bank acquired a new stake in Newmont in the 4th quarter worth approximately $1,443,128,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $127.84 on Friday. The company’s fifty day moving average is $104.23 and its two-hundred day moving average is $109.57. Newmont Corporation has a 52-week low of $72.78 and a 52-week high of $135.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The firm has a market capitalization of $134.70 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.36 and a beta of 0.47.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter last year, the company earned $1.43 earnings per share. Equities research analysts forecast that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a $0.26 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the sale, the executive vice president owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. This trade represents a 6.93% decrease in their position. The sale was disclosed in a document filed 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. Also, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the sale, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 32,091 shares of company stock worth $3,292,513. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Argus set a $110.00 price target on Newmont in a report on Monday, August 3rd. Macquarie Infrastructure reduced their price objective on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. UBS Group decreased their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. BMO Capital Markets dropped their target price on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Finally, Bank of America dropped their target price on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.73.

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.