Kentucky Retirement Systems Insurance Trust Fund Increases Stock Holdings in Newmont Corporation (NYSE:NEM)

Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 88.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,145 shares of the basic materials company's stock after buying an additional 15,514 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Newmont were worth $1,600,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its stake in shares of Newmont by 64.0% during 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 during the period. Nexus Investment Management ULC bought a new stake in Newmont in the first quarter worth about $31,000. Redwood Park Advisors LLC purchased a new position in shares of Newmont during the fourth quarter valued at approximately $37,000. Promus Capital LLC purchased a new position in shares of Newmont during the fourth quarter valued at approximately $38,000. Finally, PSI Advisors LLC raised its holdings in shares of Newmont by 195.5% in the first quarter. PSI Advisors LLC now owns 795 shares of the basic materials company's stock worth $38,000 after buying an additional 526 shares during the period. Institutional investors own 68.85% of the company's stock.

Newmont Stock Up 2.0%

Shares of NYSE:NEM traded up $1.14 during trading hours on Thursday, hitting $59.20. The company's stock had a trading volume of 9,238,899 shares, compared to its average volume of 10,524,347. The firm's fifty day moving average price is $54.15 and its 200 day moving average price is $47.43. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $60.31. The company has a market capitalization of $65.89 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 0.76 and a beta of 0.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the firm posted $0.55 earnings per share. As a group, research analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $112,344.93. Following the completion of the transaction, the director now directly owns 45,180 shares in the company, valued at approximately $2,443,786.20. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the sale, the executive vice president now owns 77,526 shares in the company, valued at $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock worth $381,539 in the last three months. 0.05% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on NEM. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $50.00 to $60.00 in a report on Friday, April 11th. Raymond James Financial reiterated an "outperform" rating and set a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. Royal Bank Of Canada upped their price target on shares of Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Finally, Cfra Research raised shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.68.

About Newmont

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.