Newmont Corporation $NEM Stock Holdings Boosted by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey increased its position in Newmont Corporation (NYSE:NEM) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 169,124 shares of the basic materials company’s stock after acquiring an additional 3,504 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Newmont were worth $9,853,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Colonial Trust Advisors increased its stake in shares of Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 429 shares during the period. Concord Wealth Partners grew its holdings in Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew its holdings in Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares in the last quarter. TCTC Holdings LLC increased its position in Newmont by 123.1% in the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 362 shares during the period. Finally, Dagco Inc. bought a new stake in Newmont during the 1st quarter valued at $32,000. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NEM shares. National Bankshares reissued an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Citigroup upped their price objective on shares of Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Raymond James Financial set a $99.00 target price on shares of Newmont and gave the company an “outperform” rating in a research note on Friday, October 24th. Macquarie downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.99.

Newmont Stock Performance

Shares of NEM opened at $89.67 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm’s 50 day moving average is $84.35 and its 200-day moving average is $68.46. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $98.58. The stock has a market capitalization of $97.85 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.53 and a beta of 0.33.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.81 earnings per share. Equities research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the sale, the director owned 34,789 shares in the company, valued at approximately $2,816,517.44. The trade was a 5.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,237 shares of company stock worth $906,799 over the last 90 days. Insiders own 0.05% of the company’s stock.

Newmont Company 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, Papua New Guinea, Ecuador, Fiji, and Ghana.