Elo Mutual Pension Insurance Co Sells 4,479 Shares of Newmont Co. (NYSE:NEM)

Elo Mutual Pension Insurance Co lessened its stake in shares of Newmont Co. (NYSE:NEM) by 4.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,592 shares of the basic materials company’s stock after selling 4,479 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Newmont were worth $4,212,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pekin Hardy Strauss Inc. raised its stake in shares of Newmont by 0.4% during the second quarter. Pekin Hardy Strauss Inc. now owns 64,082 shares of the basic materials company’s stock valued at $2,683,000 after acquiring an additional 233 shares in the last quarter. KCM Investment Advisors LLC raised its stake in shares of Newmont by 2.3% during the second quarter. KCM Investment Advisors LLC now owns 10,819 shares of the basic materials company’s stock valued at $453,000 after acquiring an additional 244 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in shares of Newmont by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 278 shares in the last quarter. Moody National Bank Trust Division raised its stake in Newmont by 1.7% in the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock worth $647,000 after buying an additional 296 shares in the last quarter. Finally, Crestmont Private Wealth LLC raised its stake in Newmont by 4.9% in the first quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock worth $246,000 after buying an additional 319 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the sale, the executive vice president now directly owns 94,596 shares in the company, valued at $4,963,452.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,000 shares of company stock valued at $2,744,700. 0.06% of the stock is owned by insiders.

Newmont Price Performance

Shares of NEM opened at $53.06 on Thursday. The firm has a market capitalization of $61.19 billion, a PE ratio of -19.87, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $54.93. The company’s fifty day moving average price is $49.84 and its 200-day moving average price is $43.25.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The business’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. On average, equities research analysts predict that Newmont Co. will post 2.82 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NEM. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and boosted their price objective for the stock from $46.00 to $61.00 in a research note on Wednesday, July 10th. Jefferies Financial Group boosted their price objective on shares of Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. BMO Capital Markets boosted their price objective on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Bank of America boosted their price objective on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.62.

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.