PBU The Pension Fund of Early Childhood & Youth Educators Invests $13.07 Million in Newmont Corporation $NEM

Key Points

• PBU The Pension Fund of Early Childhood & Youth Educators opened a new position in Newmont, buying 130,874 shares valued at about $13.07 million in the fourth quarter.
• Newmont reported strong quarterly results, posting $2.90 EPS versus the $2.07 consensus and $7.31 billion in revenue, with revenue up 45.8% year over year.
• The company also announced a quarterly dividend of $0.26 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $142.07.

PBU The Pension Fund of Early Childhood & Youth Educators purchased a new position in Newmont Corporation (NYSE:NEM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 130,874 shares of the basic materials company's stock, valued at approximately $13,068,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in shares of Newmont by 9.0% in the 4th quarter. Parallel Advisors LLC now owns 9,179 shares of the basic materials company's stock worth $917,000 after purchasing an additional 759 shares in the last quarter. Prestige Wealth Management Group LLC boosted its position in shares of Newmont by 7,261.5% in the 4th quarter. Prestige Wealth Management Group LLC now owns 15,680 shares of the basic materials company's stock worth $1,566,000 after purchasing an additional 15,467 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Newmont by 55.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 14,114 shares of the basic materials company's stock worth $1,409,000 after purchasing an additional 5,057 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Newmont by 2.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 45,637 shares of the basic materials company's stock worth $4,503,000 after purchasing an additional 1,113 shares in the last quarter. Finally, Prudential PLC lifted its position in Newmont by 138.7% in the 4th quarter. Prudential PLC now owns 373,087 shares of the basic materials company's stock valued at $37,253,000 after acquiring an additional 216,784 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

Shares of NEM opened at $99.77 on Friday. The firm has a market cap of $106.51 billion, a PE ratio of 12.94, a P/E/G ratio of 1.80 and a beta of 0.42. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $111.70 and a two-hundred day simple moving average of $109.55. Newmont Corporation has a 1-year low of $52.08 and a 1-year high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont's revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. On average, equities analysts anticipate that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NEM. Macquarie Infrastructure upped their price objective on Newmont from $130.00 to $133.00 and gave the company an "outperform" rating in a research report on Monday, April 27th. Royal Bank Of Canada lowered their price objective on Newmont from $160.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday. UBS Group lowered their price objective on Newmont from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday, March 27th. BMO Capital Markets upped their price objective on Newmont from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, Bank of America upped their price objective on Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $142.07.

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. This represents a 2.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the completion of the sale, the executive vice president owned 46,315 shares of the company's stock, valued at $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 49,950 shares of company stock worth $5,494,288 over the last three months. 0.06% of the stock is currently owned by insiders.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts and commentators continue to highlight Newmont’s strong fundamentals, including robust free cash flow, higher gold prices, a large buyback program, and improving operational efficiency as the company divests lower-yield assets. Newmont Corporation: Consider Hedging Against Global Economic Uncertainty With This Stock
• Positive Sentiment: RBC Capital kept an outperform view on Newmont even after trimming its price target, suggesting Wall Street still sees upside from current levels. Newmont (NEM) Is Among Gold Equities Trading At A Premium Valuation Relative To Peers, Says RBC Capital

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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