State of Alaska Department of Revenue Has $7.28 Million Holdings in Newmont Corporation $NEM

Key Points

• The State of Alaska Department of Revenue reduced its holdings in Newmont Corporation by 6.3%, owning 124,973 shares valued at $7.28 million at the end of the last reporting period.
• Newmont recently reported quarterly earnings of $1.43 per share, significantly exceeding estimates of $0.95, with a 20.8% year-over-year revenue increase to $5.32 billion.
• The company declared a quarterly dividend of $0.25 per share, representing an annualized amount of $1.00 and a yield of 1.2%.

State of Alaska Department of Revenue lessened its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,973 shares of the basic materials company's stock after selling 8,445 shares during the period. State of Alaska Department of Revenue's holdings in Newmont were worth $7,280,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after purchasing an additional 1,306,783 shares in the last quarter. Northern Trust Corp increased its holdings in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after purchasing an additional 191,940 shares in the last quarter. Amundi increased its holdings in Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company's stock worth $611,187,000 after purchasing an additional 343,535 shares in the last quarter. Invesco Ltd. increased its holdings in Newmont by 2.2% during the 1st quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company's stock worth $518,936,000 after purchasing an additional 228,116 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Newmont by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company's stock worth $423,572,000 after purchasing an additional 1,201,237 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Up 1.8%

NEM opened at $85.17 on Monday. The stock's fifty day simple moving average is $72.02 and its 200 day simple moving average is $59.93. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $86.62. The stock has a market cap of $93.55 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.99 and a beta of 0.33. 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 announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.48. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company's quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. As a group, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.2%. Newmont's payout ratio is 17.95%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NEM shares. Macquarie cut Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Scotiabank raised their price objective on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a report on Monday, July 28th. Royal Bank Of Canada upgraded Newmont from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $66.00 to $95.00 in a report on Wednesday, September 10th. Raymond James Financial raised their price objective on Newmont from $77.00 to $84.00 and gave the company an "outperform" rating in a report on Tuesday, September 23rd. Finally, BNP Paribas cut Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $73.38.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the sale, the executive vice president directly owned 58,736 shares in the company, valued at $3,739,133.76. The trade was a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the sale, the director owned 38,949 shares of the company's stock, valued at $2,905,205.91. This trade represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,246 shares of company stock worth $1,253,559 in the last ninety days. 0.05% of the stock is owned by company 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.

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