129,516 Shares of Newmont Corporation $NEM Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund bought a new position in Newmont Corporation (NYSE:NEM) during the third quarter, Holdings Channel.com reports. The institutional investor bought 129,516 shares of the basic materials company’s stock, valued at approximately $14,938,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont during the 1st quarter valued at about $25,000. GoalVest Advisory LLC purchased a new position in shares of Newmont during the third quarter worth about $28,000. Financial Management Professionals Inc. bought a new position in shares of Newmont in the third quarter worth approximately $30,000. Clearstead Trust LLC bought a new position in shares of Newmont in the second quarter worth approximately $25,000. Finally, Signature Equity Partners LLC bought a new position in shares of Newmont in the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Citigroup increased their price target on shares of Newmont from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Jefferies Financial Group raised their price objective on shares of Newmont from $146.00 to $155.00 in a research report on Friday, October 9th. The Goldman Sachs Group dropped their price objective on shares of Newmont from $127.50 to $119.00 in a report on Thursday, October 8th. Finally, Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $137.20.

Newmont Stock Down 1.5%

Shares of Newmont stock opened at $107.48 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45. Newmont Corporation has a 52-week low of $78.60 and a 52-week high of $135.29. The company’s 50 day moving average price is $119.68 and its 200-day moving average price is $112.42. The stock has a market capitalization of $111.70 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.99 and a beta of 0.56.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.26. The company had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.71 EPS. Equities research analysts forecast that Newmont Corporation will post 9.11 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s dividend payout ratio (DPR) is 12.09%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $324,120.00. Following the completion of the sale, the executive vice president directly owned 31,315 shares in the company, valued at approximately $3,383,272.60. This represents a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total transaction of $477,486.00. Following the sale, the chief executive officer owned 131,353 shares of the company’s stock, valued at approximately $16,156,419. This represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,646 shares of company stock worth $2,380,140 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Newmont Profile

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.