Newmont Co. (NYSE:NEM) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Newmont Co. (NYSE:NEM) by 3.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 138,600 shares of the basic materials company’s stock after purchasing an additional 4,042 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Newmont were worth $5,913,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Newmont by 101,647.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 547,513,832 shares of the basic materials company’s stock worth $23,356,940,000 after buying an additional 546,975,720 shares during the last quarter. BlackRock Inc. boosted its stake in Newmont by 3.1% during the first quarter. BlackRock Inc. now owns 95,023,960 shares of the basic materials company’s stock worth $4,658,075,000 after buying an additional 2,899,139 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Newmont by 12.8% in the 1st quarter. Deutsche Bank AG now owns 17,968,912 shares of the basic materials company’s stock valued at $880,836,000 after purchasing an additional 2,042,778 shares during the last quarter. FMR LLC lifted its stake in shares of Newmont by 13.0% in the 1st quarter. FMR LLC now owns 14,718,524 shares of the basic materials company’s stock valued at $721,502,000 after purchasing an additional 1,695,666 shares during the last quarter. Finally, Flossbach Von Storch AG lifted its stake in shares of Newmont by 2.9% in the 2nd quarter. Flossbach Von Storch AG now owns 14,296,942 shares of the basic materials company’s stock valued at $609,908,000 after purchasing an additional 404,403 shares during the last quarter. Institutional investors and hedge funds own 79.53% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, COO Robert D. Atkinson sold 5,500 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $39.91, for a total transaction of $219,505.00. Following the sale, the chief operating officer now owns 76,251 shares in the company, valued at approximately $3,043,177.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $36.47, for a total value of $401,170.00. Following the transaction, the chief executive officer now owns 245,039 shares in the company, valued at approximately $8,936,572.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert D. Atkinson sold 5,500 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $39.91, for a total value of $219,505.00. Following the completion of the transaction, the chief operating officer now owns 76,251 shares in the company, valued at approximately $3,043,177.41. The disclosure for this sale can be found here. Insiders have sold a total of 50,049 shares of company stock worth $1,901,528 in the last quarter. 0.07% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on NEM. BMO Capital Markets reaffirmed an “outperform” rating and issued a $58.00 price target (down previously from $65.00) on shares of Newmont in a research note on Tuesday, November 7th. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating and decreased their price target for the company from $54.00 to $50.00 in a research note on Friday, July 21st. Jefferies Financial Group decreased their price target on Newmont from $44.00 to $38.00 and set a “hold” rating on the stock in a research note on Wednesday, October 4th. TD Securities decreased their price target on Newmont from $55.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. Finally, Raymond James decreased their price target on Newmont from $59.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, October 27th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $56.05.

Newmont Price Performance

Shares of NYSE NEM opened at $36.09 on Wednesday. The stock’s 50-day moving average is $38.15 and its two-hundred day moving average is $40.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.12 and a quick ratio of 1.72. Newmont Co. has a 1-year low of $33.58 and a 1-year high of $60.08. The company has a market cap of $28.68 billion, a price-to-earnings ratio of -35.03, a price-to-earnings-growth ratio of 2.17 and a beta of 0.41.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). Newmont had a positive return on equity of 6.28% and a negative net margin of 7.35%. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Analysts forecast that Newmont Co. will post 1.78 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.60 annualized dividend and a yield of 4.43%. Newmont’s dividend payout ratio (DPR) is -155.34%.

Newmont Profile

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, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.