Strs Ohio Has $33.38 Million Stock Position in Newmont Corporation $NEM

Strs Ohio lessened its holdings in Newmont Corporation (NYSE:NEM) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 308,353 shares of the basic materials company’s stock after selling 14,510 shares during the quarter. Strs Ohio’s holdings in Newmont were worth $33,379,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Pinnacle Bancorp Inc. acquired a new stake in Newmont in the 1st quarter worth about $25,000. GoalVest Advisory LLC acquired a new position in shares of Newmont during the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new position in shares of Newmont during the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC increased its holdings in shares of Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the period. Finally, Lodestone Wealth Management LLC bought a new position in shares of Newmont during the fourth quarter worth approximately $28,000. 68.85% of the stock is owned by institutional investors.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $315,960.00. Following the completion of the transaction, the executive vice president owned 46,315 shares of the company’s stock, valued at $4,877,895.80. This represents a 6.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. The trade was a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 25,556 shares of company stock valued at $2,781,006. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. TD Cowen reiterated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. UBS Group dropped their price objective on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday. Scotiabank cut their target price on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research report on Friday, March 20th. TD Securities reissued a “hold” rating and set a $129.00 target price on shares of Newmont in a report on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce set a $175.00 price target on Newmont and gave the stock an “outperform” rating in a research report on Monday, June 1st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.35.

Newmont Price Performance

Newmont stock opened at $96.95 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88. The stock has a market capitalization of $103.50 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.61 and a beta of 0.46. The stock has a fifty day moving average of $106.12 and a 200-day moving average of $110.78.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating 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 business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the firm posted $1.25 earnings per share. Newmont’s revenue was up 45.8% compared to the same quarter last year. On average, sell-side analysts expect that Newmont Corporation will post 9.87 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. Newmont’s dividend payout ratio is 13.49%.

Newmont Profile

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.