Illinois Municipal Retirement Fund Buys 80,350 Shares of Newmont Corporation $NEM

Illinois Municipal Retirement Fund grew its position in Newmont Corporation (NYSE:NEM) by 576.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,288 shares of the basic materials company’s stock after purchasing an additional 80,350 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Newmont were worth $5,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC raised its position in Newmont by 59.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after purchasing an additional 5,848 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Newmont by 176.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after purchasing an additional 285,897 shares in the last quarter. Generate Investment Management Ltd boosted its position in Newmont by 25.9% during the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after acquiring an additional 77,865 shares in the last quarter. Midwest Trust Co purchased a new position in shares of Newmont in the 2nd quarter worth approximately $4,424,000. Finally, Banco Santander S.A. increased its holdings in shares of Newmont by 2,244.4% during the second quarter. Banco Santander S.A. now owns 128,284 shares of the basic materials company’s stock valued at $7,474,000 after acquiring an additional 122,812 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Up 1.9%

Shares of Newmont stock opened at $89.94 on Wednesday. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The firm has a fifty day moving average of $83.70 and a two-hundred day moving average of $68.14. The company has a market cap of $98.15 billion, a P/E ratio of 13.97, a PEG ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. Newmont’s revenue was up 20.0% on a year-over-year basis. On average, analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Newmont’s payout ratio is currently 15.53%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Royal Bank Of Canada lifted their price objective on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. TD Securities lifted their price target on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Bank of America lifted their price target on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.99.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the transaction, the director directly owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This trade represents a 5.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 11,237 shares of company stock worth $906,799 in the last quarter. Insiders own 0.05% of the company’s stock.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.