Newmont Corporation $NEM Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its Newmont stake by 3.8% in the fourth quarter, selling 9,944 shares and leaving it with 253,834 shares valued at about $25.3 million.
• Newmont reported strong quarterly results, posting EPS of $2.90 versus the $2.07 consensus and revenue of $7.31 billion, both above estimates. Revenue jumped 45.8% year over year.
• The company also declared a quarterly dividend of $0.26 per share, payable June 22, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $141.53.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,834 shares of the basic materials company's stock after selling 9,944 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Newmont were worth $25,345,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC acquired a new stake in Newmont during the 4th quarter valued at $25,000. Physician Wealth Advisors Inc. grew its holdings in Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Newmont during the 3rd quarter valued at $27,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Newmont during the 4th quarter valued at $28,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NEM stock opened at $109.60 on Monday. The firm has a market cap of $117.01 billion, a P/E ratio of 14.22 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont Corporation has a 1-year low of $51.80 and a 1-year high of $134.88. The firm has a fifty day moving average of $110.89 and a two-hundred day moving average of $109.10.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm's revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. As a group, research analysts anticipate that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 13.49%.

Insider Buying and Selling at Newmont

In other news, insider David John Thornton sold 2,296 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $330,330.00. Following the completion of the transaction, the executive vice president owned 49,315 shares in the company, valued at approximately $5,430,074.65. The trade was a 5.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 43,068 shares of company stock valued at $4,769,475. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

NEM has been the subject of a number of recent analyst reports. National Bank Financial raised their price target on shares of Newmont from $130.00 to $140.00 and gave the company a "sector perform" rating in a report on Friday, April 24th. Sanford C. Bernstein raised shares of Newmont from a "market perform" rating to an "outperform" rating and raised their price target for the company from $121.00 to $157.00 in a report on Friday, February 27th. TD Securities reaffirmed a "hold" rating and set a $129.00 price target on shares of Newmont in a report on Monday, April 27th. Argus raised their price objective on shares of Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Finally, UBS Group decreased their price objective on shares of Newmont from $150.00 to $140.00 and set a "buy" rating for the company in a report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $141.53.

About Newmont

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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