Newmont Co. (NYSE:NEM) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 48.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,631 shares of the basic materials company's stock after selling 16,341 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Newmont were worth $656,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Waverton Investment Management Ltd grew its stake in Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company's stock valued at $28,379,000 after purchasing an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC grew its stake in Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock valued at $1,854,000 after purchasing an additional 18,722 shares during the last quarter. Nordea Investment Management AB grew its stake in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company's stock valued at $88,580,000 after purchasing an additional 865,213 shares during the last quarter. Finally, Red Cedar Investment Management LLC purchased a new stake in shares of Newmont during the third quarter worth about $1,263,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry M. Iv Conger bought 9,498 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NEM. The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 price target on the stock. Raymond James dropped their price target on Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a research note on Monday, November 25th. Scotiabank dropped their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada boosted their price target on Newmont from $47.00 to $52.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Finally, Cibc World Mkts lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Newmont presently has an average rating of "Moderate Buy" and an average target price of $53.37.

Newmont Stock Performance

NYSE:NEM traded down $2.84 during trading hours on Friday, reaching $45.25. The company had a trading volume of 17,229,932 shares, compared to its average volume of 9,321,229. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The firm has a market cap of $51.52 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The business's 50 day moving average price is $41.56 and its 200-day moving average price is $46.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Tuesday, March 4th. Newmont's payout ratio is 34.13%.

About Newmont

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.