Newmont Co. (NYSE:NEM) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its position in Newmont Co. (NYSE:NEMGet Rating) by 74.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 26,587 shares of the basic materials company’s stock after selling 75,491 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Newmont were worth $1,117,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mcrae Capital Management Inc. grew its position in shares of Newmont by 3.7% during the second quarter. Mcrae Capital Management Inc. now owns 5,600 shares of the basic materials company’s stock worth $334,000 after buying an additional 200 shares in the last quarter. Central Bank & Trust Co. grew its position in shares of Newmont by 64.3% during the second quarter. Central Bank & Trust Co. now owns 608 shares of the basic materials company’s stock worth $36,000 after buying an additional 238 shares in the last quarter. Keene & Associates Inc. grew its position in shares of Newmont by 0.4% during the second quarter. Keene & Associates Inc. now owns 59,511 shares of the basic materials company’s stock worth $3,551,000 after buying an additional 244 shares in the last quarter. Kerntke Otto McGlone Wealth Management Group grew its position in shares of Newmont by 1.6% during the second quarter. Kerntke Otto McGlone Wealth Management Group now owns 15,790 shares of the basic materials company’s stock worth $942,000 after buying an additional 245 shares in the last quarter. Finally, Glassman Wealth Services grew its position in shares of Newmont by 30.1% during the second quarter. Glassman Wealth Services now owns 1,068 shares of the basic materials company’s stock worth $64,000 after buying an additional 247 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Robert D. Atkinson sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total value of $129,060.00. Following the sale, the chief operating officer now directly owns 39,947 shares in the company, valued at $1,718,519.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Mark Casper sold 4,890 shares of the company’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $41.98, for a total value of $205,282.20. Following the sale, the insider now directly owns 18,217 shares in the company, valued at $764,749.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total value of $129,060.00. Following the transaction, the chief operating officer now owns 39,947 shares in the company, valued at $1,718,519.94. The disclosure for this sale can be found here. Insiders have sold 46,890 shares of company stock worth $2,160,662 over the last three months. 0.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NEM has been the subject of a number of analyst reports. Credit Suisse Group boosted their price objective on Newmont to $54.00 in a research report on Monday, November 21st. TD Securities decreased their target price on Newmont from $49.00 to $47.00 and set a “hold” rating for the company in a research note on Wednesday, November 2nd. Eight Capital decreased their target price on Newmont to $58.00 in a research note on Thursday, October 27th. Fundamental Research restated a “buy” rating and set a $52.00 target price (down previously from $63.91) on shares of Newmont in a research note on Tuesday, November 15th. Finally, Barclays decreased their target price on Newmont from $55.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, November 21st. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Newmont currently has a consensus rating of “Hold” and a consensus price target of $63.63.

Newmont Trading Up 0.5 %

Shares of NEM stock opened at $53.63 on Tuesday. The business’s fifty day moving average price is $48.46 and its 200 day moving average price is $46.01. Newmont Co. has a 1-year low of $37.45 and a 1-year high of $86.37. The firm has a market capitalization of $42.57 billion, a PE ratio of 42.56 and a beta of 0.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 2.29.

Newmont (NYSE:NEMGet Rating) last posted its earnings results on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.02). The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. Newmont had a net margin of 8.28% and a return on equity of 8.07%. As a group, sell-side analysts forecast that Newmont Co. will post 1.82 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Wednesday, December 7th. Newmont’s dividend payout ratio (DPR) is 174.60%.

About Newmont

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

See Also

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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