Newmont Co. (NYSE:NEM) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its position in Newmont Co. (NYSE:NEM) by 4.3% in the second quarter, HoldingsChannel reports. The fund owned 100,592 shares of the basic materials company’s stock after selling 4,479 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Newmont were worth $4,212,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NEM. Vanguard Group Inc. raised its position in shares of Newmont by 43.8% in the fourth quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock worth $4,915,059,000 after acquiring an additional 36,170,995 shares during the period. Bank of New York Mellon Corp raised its position in shares of Newmont by 39.8% in the first quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock worth $832,354,000 after acquiring an additional 6,617,145 shares during the period. Ruffer LLP raised its position in shares of Newmont by 190.1% in the fourth quarter. Ruffer LLP now owns 6,100,822 shares of the basic materials company’s stock worth $252,482,000 after acquiring an additional 3,997,590 shares during the period. Northern Trust Corp raised its position in shares of Newmont by 25.9% during the 4th quarter. Northern Trust Corp now owns 12,988,497 shares of the basic materials company’s stock worth $537,594,000 after purchasing an additional 2,671,774 shares during the last quarter. Finally, Maj Invest Holding A S raised its position in shares of Newmont by 296.0% during the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock worth $143,502,000 after purchasing an additional 2,561,823 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NEM shares. UBS Group upped their price target on shares of Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday. Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Thursday, August 29th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. CIBC upgraded shares of Newmont from a “neutral” rating to a “sector outperform” rating and upped their price target for the stock from $46.00 to $61.00 in a research report on Wednesday, July 10th. Finally, Bank of America upped their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $52.62.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,000 shares of company stock valued at $2,744,700. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $53.06 on Thursday. The firm has a 50 day simple moving average of $49.84 and a 200-day simple moving average of $43.25. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $54.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The stock has a market cap of $61.19 billion, a price-to-earnings ratio of -19.87, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49.

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

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. Newmont’s 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.