VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 690,700 shares of the basic materials company's stock, valued at approximately $40,240,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.06% of Newmont as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Hemington Wealth Management lifted its stake in Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company's stock worth $66,000 after purchasing an additional 170 shares during the last quarter. IVC Wealth Advisors LLC lifted its stake in Newmont by 1.3% in the second quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company's stock worth $813,000 after purchasing an additional 173 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Newmont by 11.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company's stock worth $101,000 after purchasing an additional 185 shares during the last quarter. Aaron Wealth Advisors LLC lifted its stake in Newmont by 4.4% in the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company's stock worth $260,000 after purchasing an additional 190 shares during the last quarter. Finally, Chelsea Counsel Co. lifted its stake in Newmont by 1.0% in the second quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company's stock worth $1,067,000 after purchasing an additional 190 shares during the last quarter. 68.85% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, CAO Brian Tabolt sold 7,015 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares of the company's stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the sale, the director directly owned 36,869 shares in the company, valued at $3,133,496.31. The trade was a 5.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock valued at $1,132,065 over the last quarter. Corporate insiders own 0.05% of the company's stock.
Newmont Price Performance
Shares of NYSE NEM opened at $90.76 on Friday. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.23 and a quick ratio of 1.91. The company's 50-day moving average is $79.24 and its 200 day moving average is $64.08. The stock has a market capitalization of $99.69 billion, a P/E ratio of 16.29, a P/E/G ratio of 0.99 and a beta of 0.34.
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. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The company had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $4.70 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. Newmont's quarterly revenue was up 20.8% on a year-over-year basis. On average, sell-side analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.
Newmont Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont's payout ratio is currently 17.95%.
Analyst Ratings Changes
Several analysts have weighed in on NEM shares. National Bankshares reissued an "outperform" rating on shares of Newmont in a research note on Monday, September 22nd. Bank of America boosted their price target on shares of Newmont from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday. Royal Bank Of Canada upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $66.00 to $95.00 in a research report on Wednesday, September 10th. Citigroup boosted their price objective on shares of Newmont from $74.00 to $104.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Zacks Research cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Four analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average price target of $87.59.
Check Out Our Latest Research Report on NEM
About Newmont
(
Free Report)
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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