Newmont Co. (NYSE:NEM) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its stake in shares of Newmont Co. (NYSE:NEM) by 8.0% in the third quarter, Holdings Channel reports. The institutional investor owned 79,936 shares of the basic materials company’s stock after selling 6,960 shares during the quarter. Kentucky Retirement Systems’ holdings in Newmont were worth $4,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sei Investments Co. increased its position in shares of Newmont by 67.5% in the 1st quarter. Sei Investments Co. now owns 203,859 shares of the basic materials company’s stock worth $7,307,000 after purchasing an additional 82,165 shares during the last quarter. Blair William & Co. IL raised its stake in Newmont by 4.4% during the first quarter. Blair William & Co. IL now owns 31,636 shares of the basic materials company’s stock valued at $1,134,000 after buying an additional 1,339 shares in the last quarter. M&G Plc bought a new position in Newmont during the 1st quarter worth approximately $2,834,000. TIAA Trust National Association acquired a new position in shares of Newmont in the 1st quarter worth approximately $208,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Newmont by 86.6% in the 1st quarter. Osaic Holdings Inc. now owns 275,145 shares of the basic materials company’s stock valued at $9,864,000 after acquiring an additional 127,684 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $40.93 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $51.11 and a 200 day moving average price of $47.40. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. On average, sell-side analysts predict that Newmont Co. will post 3.15 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. Newmont’s dividend payout ratio (DPR) is -65.79%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NEM shares. Raymond James lifted their price objective on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 29th. Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.14.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

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.