State Street Corp Buys 480,223 Shares of Newmont Corporation $NEM

State Street Corp lifted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,959,850 shares of the basic materials company's stock after purchasing an additional 480,223 shares during the period. State Street Corp owned 4.58% of Newmont worth $4,988,491,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. GoalVest Advisory LLC acquired a new position in shares of Newmont during the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new position in shares of Newmont during the 4th quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new position in shares of Newmont during the 3rd quarter worth approximately $27,000. Cornerstone Planning Group LLC increased its holdings in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after acquiring an additional 206 shares during the last quarter. Finally, Lodestone Wealth Management LLC acquired a new position in shares of Newmont during the 4th quarter worth approximately $28,000. Institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Zacks Research lowered Newmont from a "strong-buy" rating to a "hold" rating in a report on Friday, April 3rd. TD Securities reissued a "hold" rating and set a $129.00 target price on shares of Newmont in a report on Monday, April 27th. National Bank Financial boosted their target price on Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a report on Friday, April 24th. Weiss Ratings lowered Newmont from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group decreased their target price on Newmont from $125.10 to $122.50 and set a "buy" rating on the stock in a report on Thursday, June 4th. Two investment 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.26.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. Following the sale, the executive vice president directly owned 46,315 shares of the company's stock, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the sale, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 49,950 shares of company stock worth $5,494,288 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Newmont Stock Up 2.6%

NEM opened at $100.10 on Friday. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The company has a market capitalization of $106.86 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.62 and a beta of 0.42. The stock has a fifty day moving average of $110.94 and a 200-day moving average of $109.98.

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

Newmont Dividend Announcement

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

Newmont Company Profile

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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