Public Employees Retirement Association of Colorado Sells 4,517 Shares of Newmont Co. (NYSE:NEM)

Public Employees Retirement Association of Colorado trimmed its stake in Newmont Co. (NYSE:NEM) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,025 shares of the basic materials company’s stock after selling 4,517 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Newmont were worth $6,742,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. LRI Investments LLC bought a new stake in shares of Newmont in the 1st quarter valued at approximately $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont in the second quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont in the second quarter worth approximately $27,000. Heritage Wealth Advisors raised its holdings in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares during the period. Finally, Crewe Advisors LLC purchased a new stake in shares of Newmont in the first quarter worth approximately $35,000. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 1.8 %

Shares of NYSE:NEM opened at $54.47 on Friday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $54.93. The business’s fifty day simple moving average is $50.10 and its 200-day simple moving average is $43.54. The company has a market capitalization of $62.81 billion, a PE ratio of -20.40, a P/E/G ratio of 0.37 and a beta of 0.49. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

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

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. Newmont’s payout ratio is -37.45%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NEM shares. BNP Paribas upgraded Newmont to a “strong-buy” rating in a report on Friday, June 21st. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. UBS Group increased their price target on Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Jefferies Financial Group raised their price objective on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $48.00 to $59.00 in a report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.62.

Insider Transactions at Newmont

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

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.