Newmont Corporation $NEM Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in Newmont Corporation (NYSE:NEM) by 18.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 561,200 shares of the basic materials company’s stock after selling 129,500 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.05% of Newmont worth $47,315,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Concord Wealth Partners lifted its holdings in shares of Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares during the period. Evermay Wealth Management LLC increased its position in Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the last quarter. Capital A Wealth Management LLC increased its position in Newmont by 1,648.3% during the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 478 shares during the last quarter. Caldwell Trust Co purchased a new position in Newmont during the second quarter worth approximately $31,000. Finally, Country Trust Bank acquired a new position in shares of Newmont in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Argus boosted their price target on Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research note on Monday. Finally, Bank of America boosted their target price on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Newmont has an average rating of “Buy” and a consensus target price of $97.08.

Newmont Trading Up 2.0%

Shares of NEM opened at $101.80 on Wednesday. Newmont Corporation has a 12 month low of $36.86 and a 12 month high of $106.34. The stock’s 50-day moving average is $90.79 and its two-hundred day moving average is $78.28. 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 stock has a market cap of $111.09 billion, a PE ratio of 15.81, a P/E/G ratio of 0.69 and a beta of 0.41.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The company had revenue of $5.52 billion for 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 quarter last year, the firm posted $0.81 earnings per share. Equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were issued a $0.25 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Newmont’s payout ratio is currently 15.53%.

Newmont Company 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.