National Pension Service Acquires 316,918 Shares of Newmont Corporation (NYSE:NEM)

Key Points

• The National Pension Service increased its holdings in Newmont Corporation by 11.2% in the first quarter, acquiring an additional 316,918 shares, bringing its total to approximately 3.15 million shares valued at $152 million.
• Newmont recently announced a quarterly dividend of $0.25 per share, to be paid on September 29, which represents an annual dividend yield of 1.5%.
• Several analysts have upgraded their ratings on Newmont, with National Bankshares raising its rating from "sector perform" to "outperform," and the company now has a consensus rating of "Moderate Buy" and a price target of $64.58.

National Pension Service lifted its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,148,462 shares of the basic materials company's stock after acquiring an additional 316,918 shares during the period. National Pension Service owned approximately 0.28% of Newmont worth $152,008,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Hemington Wealth Management boosted its stake in Newmont by 25.2% in the first quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock valued at $46,000 after acquiring an additional 194 shares during the last quarter. Ipswich Investment Management Co. Inc. lifted its stake in Newmont by 1.4% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock worth $689,000 after purchasing an additional 200 shares in the last quarter. SOA Wealth Advisors LLC. lifted its stake in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares in the last quarter. Rothschild Investment LLC increased its holdings in shares of Newmont by 8.5% in the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after buying an additional 219 shares during the last quarter. Finally, Twin Capital Management Inc. increased its holdings in shares of Newmont by 0.7% in the 1st quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock worth $1,873,000 after buying an additional 254 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $132,221.82. Following the completion of the transaction, the director directly owned 41,026 shares of the company's stock, valued at $2,611,715.16. This trade represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,246 shares of company stock worth $1,373,251. Corporate insiders own 0.05% of the company's stock.

Newmont Trading Down 0.5%

Shares of NEM opened at $68.61 on Thursday. The company has a market cap of $75.36 billion, a P/E ratio of 12.32, a P/E/G ratio of 0.81 and a beta of 0.30. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $70.29. The company's fifty day simple moving average is $60.38 and its 200-day simple moving average is $52.73. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. During the same period in the prior year, the business earned $0.72 EPS. The firm's quarterly revenue was up 20.8% on a year-over-year basis. As a group, analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Thursday, September 4th. Newmont's dividend payout ratio (DPR) is currently 17.95%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. National Bankshares raised shares of Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. Scotiabank lifted their price target on shares of Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. Argus set a $63.00 target price on shares of Newmont in a report on Friday, April 25th. Raymond James Financial boosted their price objective on shares of Newmont from $67.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

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.

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