Newmont Co. (NYSE:NEM) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its position in Newmont Co. (NYSE:NEM) by 0.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 200,826 shares of the basic materials company’s stock after selling 1,200 shares during the quarter. State of Michigan Retirement System’s holdings in Newmont were worth $12,104,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its stake in shares of Newmont by 22.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 49,900 shares of the basic materials company’s stock worth $2,989,000 after purchasing an additional 9,100 shares during the period. Granite Investment Advisors LLC acquired a new position in shares of Newmont during the 4th quarter worth $1,834,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in shares of Newmont by 1.0% during the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 41,430 shares of the basic materials company’s stock worth $2,482,000 after purchasing an additional 430 shares during the period. First Hawaiian Bank grew its stake in shares of Newmont by 14.4% during the 4th quarter. First Hawaiian Bank now owns 14,482 shares of the basic materials company’s stock worth $867,000 after purchasing an additional 1,819 shares during the period. Finally, CX Institutional grew its stake in shares of Newmont by 57.3% during the 4th quarter. CX Institutional now owns 977 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 356 shares during the period. 79.18% of the stock is currently owned by institutional investors.

Shares of NEM stock opened at $68.78 on Wednesday. The firm has a market cap of $55.10 billion, a P/E ratio of 21.63 and a beta of 0.14. Newmont Co. has a 1-year low of $52.33 and a 1-year high of $72.22. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.83 and a quick ratio of 2.47. The firm’s 50-day simple moving average is $63.38 and its 200-day simple moving average is $61.21.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 29th. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). Newmont had a return on equity of 7.37% and a net margin of 23.19%. Analysts expect that Newmont Co. will post 2.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Thursday, June 3rd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Wednesday, June 2nd. Newmont’s dividend payout ratio (DPR) is presently 166.67%.

In other Newmont news, EVP Stephen P. Gottesfeld sold 4,000 shares of the stock in a transaction that occurred on Wednesday, April 14th. The shares were sold at an average price of $62.38, for a total value of $249,520.00. Following the completion of the sale, the executive vice president now owns 113,140 shares of the company’s stock, valued at $7,057,673.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen P. Gottesfeld sold 13,240 shares of the stock in a transaction that occurred on Friday, April 23rd. The shares were sold at an average price of $66.45, for a total transaction of $879,798.00. Following the completion of the sale, the executive vice president now directly owns 126,380 shares of the company’s stock, valued at approximately $8,397,951. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,762 shares of company stock valued at $2,185,255. Corporate insiders own 0.28% of the company’s stock.

NEM has been the topic of a number of research reports. Zacks Investment Research cut shares of Newmont from a “hold” rating to a “sell” rating and set a $71.00 price objective on the stock. in a research note on Monday. National Bank Financial reissued an “outperform” rating on shares of Newmont in a research note on Friday, April 23rd. Citigroup lowered their price objective on shares of Newmont from $70.00 to $66.00 in a research note on Friday, February 19th. Raymond James set a $78.00 price objective on shares of Newmont and gave the company an “outperform” rating in a research note on Friday, April 30th. Finally, Fundamental Research reduced their target price on shares of Newmont from $74.35 to $69.96 and set a “buy” rating on the stock in a report on Friday, February 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.23.

About Newmont

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, and Ghana. As of December 31, 2020, it had proven and probable gold reserves of 94.2 million ounces and land position of 58,900 square kilometers.

Read More: Retained Earnings

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.