Public Sector Pension Investment Board Sells 588,315 Shares of Newmont Corporation (NYSE:NEM)

Public Sector Pension Investment Board lessened its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 79.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,978 shares of the basic materials company's stock after selling 588,315 shares during the period. Public Sector Pension Investment Board's holdings in Newmont were worth $7,482,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Hemington Wealth Management raised its stake in Newmont by 25.2% during the first quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock worth $46,000 after buying an additional 194 shares during the last quarter. Ipswich Investment Management Co. Inc. increased its stake in Newmont by 1.4% in the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after purchasing an additional 200 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares in the last quarter. Rothschild Investment LLC grew its holdings in shares of Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after buying an additional 219 shares during the last quarter. Finally, Twin Capital Management Inc. grew its holdings in shares of Newmont by 0.7% during the first quarter. Twin Capital Management Inc. now owns 38,798 shares of the basic materials company's stock valued at $1,873,000 after buying an additional 254 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on NEM shares. National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. UBS Group boosted their price target on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada boosted their price target on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Argus set a $63.00 target price on shares of Newmont in a report on Friday, April 25th. Finally, Stifel Nicolaus began coverage on shares of Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.58.

Newmont Stock Up 1.2%

NYSE:NEM traded up $0.84 on Friday, reaching $69.32. 7,907,348 shares of the stock traded hands, compared to its average volume of 10,953,594. The company's fifty day simple moving average is $61.00 and its 200 day simple moving average is $53.19. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $70.29. The company has a market capitalization of $76.14 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.82 and a beta of 0.30. 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 posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The firm's revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. Equities analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.4%. Newmont's payout ratio is currently 17.95%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president owned 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of Newmont 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 transaction, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,246 shares of company stock valued at $1,373,251 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

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.