National Pension Service Has $105.39 Million Holdings in Newmont Co. (NYSE:NEM)

National Pension Service increased its position in shares of Newmont Co. (NYSE:NEM) by 11.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,831,544 shares of the basic materials company’s stock after acquiring an additional 298,467 shares during the quarter. National Pension Service’s holdings in Newmont were worth $105,390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. Wealth Enhancement Advisory Services LLC lifted its position in Newmont by 0.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 142,583 shares of the basic materials company’s stock worth $7,621,000 after purchasing an additional 861 shares during the period. J.W. Cole Advisors Inc. lifted its position in Newmont by 3.8% during the third quarter. J.W. Cole Advisors Inc. now owns 8,438 shares of the basic materials company’s stock worth $451,000 after purchasing an additional 309 shares during the period. abrdn plc lifted its position in Newmont by 35.3% during the third quarter. abrdn plc now owns 1,738,741 shares of the basic materials company’s stock worth $92,840,000 after purchasing an additional 453,603 shares during the period. Fidelis Capital Partners LLC bought a new stake in Newmont during the third quarter worth about $210,000. Finally, Highline Wealth Partners LLC bought a new stake in Newmont during the third quarter worth about $32,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NEM. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group began coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. Bernstein Bank increased their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. TD Securities dropped their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Raymond James dropped their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $89,082.53. Following the sale, the director now directly owns 49,993 shares of the company’s stock, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Up 1.5 %

Shares of NYSE NEM opened at $43.55 on Thursday. The company has a 50 day simple moving average of $41.82 and a 200 day simple moving average of $46.37. The firm has a market cap of $49.58 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. On average, research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

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, Papua New Guinea, Ecuador, Fiji, and Ghana.