National Pension Service Sells 957,404 Shares of Newmont Corporation $NEM

National Pension Service trimmed its stake in Newmont Corporation (NYSE:NEM) by 22.0% in the fourth quarter, Holdings Channel reports. The firm owned 3,396,860 shares of the basic materials company’s stock after selling 957,404 shares during the quarter. National Pension Service’s holdings in Newmont were worth $339,176,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NEM. Assetmark Inc. grew its stake in Newmont by 398.3% in the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after purchasing an additional 2,294,396 shares in the last quarter. Boston Partners grew its stake in Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after purchasing an additional 2,288,653 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Newmont by 106.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock valued at $349,288,000 after purchasing an additional 2,146,905 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Newmont by 142.0% in the second quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock valued at $189,963,000 after purchasing an additional 1,914,286 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new position in Newmont in the fourth quarter valued at approximately $166,191,000. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NEM has been the subject of a number of analyst reports. Citigroup raised their price target on Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. TD Securities reiterated a “hold” rating and set a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. Argus lifted their target price on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Weiss Ratings downgraded Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Finally, Macquarie Infrastructure lifted their target price on Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.53.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $330,330.00. Following the completion of the sale, the executive vice president directly owned 49,315 shares in the company, valued at $5,430,074.65. The trade was a 5.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This trade represents a 16.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 43,068 shares of company stock valued at $4,769,475. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM opened at $108.32 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $51.80 and a 12 month high of $134.88. The stock has a 50 day moving average of $110.82 and a 200-day moving average of $108.95. The company has a market capitalization of $115.64 billion, a P/E ratio of 14.05 and a beta of 0.43.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the company posted $1.25 EPS. The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, equities research analysts predict that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s payout ratio is 13.49%.

About Newmont

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.