National Pension Service Grows Holdings in Newmont Co. (NYSE:NEM)

National Pension Service boosted its position in Newmont Co. (NYSE:NEM - Free Report) by 27.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,533,077 shares of the basic materials company's stock after purchasing an additional 552,698 shares during the period. National Pension Service owned approximately 0.22% of Newmont worth $135,393,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Intact Investment Management Inc. acquired a new stake in Newmont during the third quarter valued at $75,000. Northeast Investment Management bought a new stake in Newmont during the 3rd quarter valued at approximately $214,000. GFS Advisors LLC acquired a new stake in shares of Newmont in the third quarter worth $203,000. Allen Wealth Management LLC bought a new position in shares of Newmont during the 3rd quarter worth about $243,000. Finally, Lmcg Investments LLC raised its holdings in Newmont by 8.0% in the 3rd quarter. Lmcg Investments LLC now owns 202,512 shares of the basic materials company's stock valued at $10,824,000 after acquiring an additional 15,049 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NEM. BMO Capital Markets lifted their price target on shares of Newmont from $56.00 to $57.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Raymond James increased their price target on Newmont from $65.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Jefferies Financial Group lifted their price target on shares of Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Royal Bank of Canada reduced their price target on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a report on Thursday, October 24th. Finally, Scotiabank cut Newmont from a "sector outperform" rating to a "sector perform" rating and cut their target price for the company from $59.00 to $55.00 in a research note on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $53.85.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at approximately $15,293,378.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by company insiders.

Newmont Stock Up 0.5 %

NEM stock traded up $0.24 on Tuesday, reaching $46.00. 6,753,894 shares of the company traded hands, compared to its average volume of 10,396,883. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a fifty day simple moving average of $52.78 and a 200-day simple moving average of $47.27. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company has a market cap of $52.37 billion, a P/E ratio of -30.16, a price-to-earnings-growth ratio of 0.37 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the company earned $0.36 earnings per share. The company's revenue for the quarter was up 84.7% compared to the same quarter last year. Research analysts anticipate that Newmont Co. will post 3.12 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.17%. Newmont's dividend payout ratio (DPR) is presently -65.79%.

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.