Arizona State Retirement System Purchases 7,329 Shares of Newmont Corporation (NYSE:NEM)

Arizona State Retirement System raised its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 334,104 shares of the basic materials company's stock after acquiring an additional 7,329 shares during the period. Arizona State Retirement System's holdings in Newmont were worth $16,131,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Realta Investment Advisors raised its position in shares of Newmont by 30.3% in the first quarter. Realta Investment Advisors now owns 15,047 shares of the basic materials company's stock valued at $726,000 after buying an additional 3,500 shares in the last quarter. Ballentine Partners LLC raised its position in shares of Newmont by 20.4% in the first quarter. Ballentine Partners LLC now owns 14,544 shares of the basic materials company's stock valued at $702,000 after buying an additional 2,467 shares in the last quarter. Fortem Financial Group LLC raised its position in shares of Newmont by 18.1% in the first quarter. Fortem Financial Group LLC now owns 33,018 shares of the basic materials company's stock valued at $1,594,000 after buying an additional 5,051 shares in the last quarter. Beirne Wealth Consulting Services LLC acquired a new stake in shares of Newmont in the first quarter valued at approximately $236,000. Finally, Cromwell Holdings LLC raised its position in shares of Newmont by 252.3% in the first quarter. Cromwell Holdings LLC now owns 3,755 shares of the basic materials company's stock valued at $181,000 after buying an additional 2,689 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NYSE:NEM traded up $0.59 during trading on Monday, hitting $60.72. 3,023,522 shares of the company were exchanged, compared to its average volume of 10,625,746. The business's 50 day moving average is $55.34 and its 200-day moving average is $49.06. The company has a market capitalization of $67.58 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $61.14.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same period in the prior year, the business earned $0.55 earnings per share. Equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.65%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the sale, the director owned 43,103 shares of the company's stock, valued at $2,532,301.25. The trade was a 4.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the completion of the sale, the executive vice president directly owned 74,526 shares in the company, valued at approximately $4,378,402.50. This represents a 3.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,231 shares of company stock worth $679,813. 0.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of analyst reports. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research report on Friday, March 21st. The Goldman Sachs Group reiterated a "neutral" rating and issued a $60.90 price target on shares of Newmont in a research report on Tuesday, July 8th. National Bankshares restated a "sector perform" rating on shares of Newmont in a research report on Tuesday, June 24th. Finally, Raymond James Financial restated an "outperform" rating and set a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $61.45.

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.