5,667 Shares in Newmont Corporation $NEM Purchased by State of Wyoming

State of Wyoming purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, Holdings Channel reports. The firm purchased 5,667 shares of the basic materials company’s stock, valued at approximately $654,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Newmont in the 2nd quarter valued at $11,289,753,000. State Street Corp increased its holdings in shares of Newmont by 3.1% during the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock worth $4,893,852,000 after buying an additional 1,565,716 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Newmont by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock worth $1,324,757,000 after buying an additional 615,461 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Newmont by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock worth $1,012,792,000 after buying an additional 184,586 shares during the period. Finally, Amundi grew its position in Newmont by 4.4% during the first quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock valued at $950,519,000 after acquiring an additional 372,415 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of several recent research reports. Weiss Ratings upgraded shares of Newmont from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Bank of America raised their price objective on Newmont from $135.00 to $145.00 in a research report on Monday, August 17th. TD Securities upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. RBC Dominion Securities set a $155.00 price objective on Newmont and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Finally, Scotiabank decreased their target price on Newmont from $149.00 to $148.00 and set an “outperform” rating for the company in a research report on Tuesday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.20.

Newmont Trading Down 0.0%

NEM opened at $106.60 on Monday. The firm’s 50 day moving average is $120.62 and its 200-day moving average is $112.48. Newmont Corporation has a 52-week low of $78.60 and a 52-week high of $135.29. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $110.78 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.95 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.26. The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.71 earnings per share. Analysts expect that Newmont Corporation will post 9.11 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, November 25th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio (DPR) is currently 12.09%.

Insider Activity

In other news, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the sale, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the transaction, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. This trade represents a 8.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,973 shares of company stock worth $3,646,819 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.