Teachers Retirement System of The State of Kentucky Lowers Holdings in Newmont Co. (NYSE:NEM)

Teachers Retirement System of The State of Kentucky decreased its holdings in Newmont Co. (NYSE:NEMGet Rating) by 4.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 56,431 shares of the basic materials company’s stock after selling 2,456 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Newmont were worth $4,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vectors Research Management LLC purchased a new stake in shares of Newmont during the 4th quarter worth about $25,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Newmont during the 1st quarter worth about $28,000. Central Bank & Trust Co. purchased a new stake in shares of Newmont during the 1st quarter worth about $29,000. Pacific Center for Financial Services purchased a new stake in shares of Newmont during the 1st quarter worth about $30,000. Finally, Riverview Trust Co purchased a new stake in shares of Newmont during the 1st quarter worth about $38,000. Hedge funds and other institutional investors own 81.11% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $59.43, for a total transaction of $653,730.00. Following the completion of the transaction, the chief executive officer now directly owns 265,949 shares in the company, valued at approximately $15,805,349.07. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Nancy Buese sold 10,000 shares of the stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $61.50, for a total value of $615,000.00. Following the completion of the transaction, the chief financial officer now owns 39,530 shares of the company’s stock, valued at $2,431,095. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $59.43, for a total value of $653,730.00. Following the completion of the transaction, the chief executive officer now directly owns 265,949 shares of the company’s stock, valued at approximately $15,805,349.07. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock worth $2,081,920 in the last three months. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NEM. TD Securities decreased their price target on Newmont from $64.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, July 26th. Canaccord Genuity Group upgraded Newmont from a “hold” rating to a “buy” rating and decreased their price target for the stock from $66.00 to $60.00 in a report on Wednesday, July 27th. Fundamental Research decreased their price target on Newmont from $79.52 to $63.91 and set a “buy” rating for the company in a report on Tuesday, August 9th. Raymond James decreased their price target on Newmont from $71.00 to $69.00 and set an “outperform” rating for the company in a report on Friday. Finally, UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, September 6th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Newmont has a consensus rating of “Hold” and an average price target of $66.94.

Newmont Stock Performance

NEM stock opened at $43.71 on Monday. The company has a current ratio of 2.82, a quick ratio of 2.44 and a debt-to-equity ratio of 0.28. The firm has a market cap of $34.69 billion, a P/E ratio of 44.15 and a beta of 0.29. Newmont Co. has a 12-month low of $40.27 and a 12-month high of $86.37. The stock’s 50 day simple moving average is $46.24 and its 200 day simple moving average is $62.61.

Newmont (NYSE:NEMGet Rating) last issued its quarterly earnings data on Monday, July 25th. The basic materials company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.14). The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. Newmont had a return on equity of 9.13% and a net margin of 6.40%. Newmont’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 earnings per share. As a group, equities research analysts predict that Newmont Co. will post 2.61 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 8th will be paid a dividend of $0.55 per share. The ex-dividend date is Wednesday, September 7th. This represents a $2.20 dividend on an annualized basis and a yield of 5.03%. Newmont’s payout ratio is currently 222.22%.

Newmont Profile

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

Featured Articles

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Co. (NYSE:NEMGet Rating).

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.