Newmont Corporation $NEM Shares Purchased by Strs Ohio

Key Points

• Strs Ohio boosted its Newmont stake by 4.5% in Q4 (adding 13,872 shares) to 322,863 shares valued at about $32.24M, while PFA Pension initiated a large ~$98.2M position and institutional investors now own 68.85% of the company.
• Newmont meaningfully beat quarterly expectations with EPS $2.90 vs $2.07 and revenue of $7.31B (up 45.8% YoY), triggering multiple price-target increases and a MarketBeat consensus rating of Moderate Buy with an average target of $142.51.

Strs Ohio boosted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 322,863 shares of the basic materials company's stock after acquiring an additional 13,872 shares during the quarter. Strs Ohio's holdings in Newmont were worth $32,238,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NEM. Artemis Investment Management LLP purchased a new stake in shares of Newmont during the 4th quarter worth about $13,309,000. Caisse Des Depots ET Consignations increased its stake in shares of Newmont by 56.5% in the 4th quarter. Caisse Des Depots ET Consignations now owns 29,116 shares of the basic materials company's stock valued at $2,907,000 after purchasing an additional 10,514 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after purchasing an additional 206 shares during the period. Composition Wealth LLC raised its holdings in Newmont by 32.5% in the 4th quarter. Composition Wealth LLC now owns 5,118 shares of the basic materials company's stock worth $511,000 after purchasing an additional 1,254 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in Newmont during the fourth quarter worth approximately $98,224,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

NEM has been the topic of several research analyst reports. BMO Capital Markets raised their price objective on Newmont from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Royal Bank Of Canada increased their target price on Newmont from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Tuesday, February 3rd. Macquarie Infrastructure lifted their price target on shares of Newmont from $130.00 to $133.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Citigroup boosted their price target on shares of Newmont from $118.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Finally, TD Securities restated a "hold" rating and set a $129.00 price objective on shares of Newmont in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and an average target price of $142.51.

Newmont Price Performance

NEM stock opened at $108.58 on Friday. Newmont Corporation has a 1 year low of $48.27 and a 1 year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The firm has a market capitalization of $115.91 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.98 and a beta of 0.43. The business has a 50 day simple moving average of $113.57 and a 200-day simple moving average of $105.47.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm's revenue was up 45.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 earnings per share. Equities research analysts anticipate that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont's payout ratio is currently 13.49%.

Insider Activity

In related news, insider David James Fry sold 18,394 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the transaction, the executive vice president directly owned 52,315 shares in the company, valued at $5,916,303.35. This trade represents a 5.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 24,394 shares of company stock worth $2,713,281. Corporate insiders own 0.06% of the company's stock.

Newmont Company Profile

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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