Newmont Co. (NYSE:NEM) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its position in shares of Newmont Co. (NYSE:NEM) by 2.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 161,025 shares of the basic materials company’s stock after selling 4,517 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Newmont were worth $6,742,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American International Group Inc. lifted its position in Newmont by 24.8% during the 4th quarter. American International Group Inc. now owns 292,735 shares of the basic materials company’s stock worth $12,116,000 after acquiring an additional 58,217 shares during the period. Premier Fund Managers Ltd purchased a new position in shares of Newmont during the 4th quarter valued at about $1,276,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Newmont during the 4th quarter valued at about $1,167,000. Virtu Financial LLC purchased a new position in shares of Newmont during the 4th quarter valued at about $3,313,000. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Newmont by 26.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 184,604 shares of the basic materials company’s stock valued at $7,641,000 after buying an additional 39,053 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now directly owns 331,469 shares in the company, valued at approximately $13,964,788.97. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the completion of the transaction, the chief executive officer now owns 331,469 shares in the company, valued at $13,964,788.97. The disclosure for this sale can be found here. Insiders have sold a total of 56,000 shares of company stock worth $2,744,700 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group lifted their price objective on Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, July 12th. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and lifted their price objective for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. BNP Paribas upgraded Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Finally, Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.62.

Newmont Price Performance

NYSE:NEM opened at $54.47 on Friday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $54.93. The stock has a 50 day moving average of $50.10 and a two-hundred day moving average of $43.54. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31. The firm has a market cap of $62.81 billion, a P/E ratio of -20.40, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business’s revenue for the quarter was up 64.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. On average, analysts expect that Newmont Co. will post 2.82 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio is currently -37.45%.

Newmont Company 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.