PKO Investment Management Joint Stock Co Sells 42,600 Shares of Newmont Corporation $NEM

PKO Investment Management Joint Stock Co reduced its position in Newmont Corporation (NYSE:NEM) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 287,953 shares of the basic materials company’s stock after selling 42,600 shares during the quarter. Newmont comprises about 2.3% of PKO Investment Management Joint Stock Co’s portfolio, making the stock its 8th largest position. PKO Investment Management Joint Stock Co’s holdings in Newmont were worth $28,752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. GoalVest Advisory LLC acquired a new position in Newmont during the fourth quarter valued at approximately $25,000. Physician Wealth Advisors Inc. lifted its stake in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 236 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Newmont in the 3rd quarter valued at $27,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Newmont in the 4th quarter valued at $28,000. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank Of Canada upped their price objective on Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Wall Street Zen raised Newmont from a “hold” rating to a “buy” rating in a research note on Saturday, April 25th. Argus increased their target price on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. BMO Capital Markets raised their price target on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Citigroup lifted their price target on shares of Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $142.51.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00. Following the sale, the executive vice president directly owned 52,315 shares of the company’s stock, valued at $5,916,303.35. The trade was a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David James Fry sold 18,394 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 24,394 shares of company stock valued at $2,713,281. 0.06% of the stock is owned by company insiders.

Newmont Trading Down 2.3%

NYSE NEM opened at $108.58 on Friday. The company has a market cap of $115.91 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.98 and a beta of 0.43. Newmont Corporation has a twelve month low of $48.27 and a twelve month high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average is $113.57 and its 200 day moving average is $105.47.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. As a group, sell-side analysts expect that Newmont Corporation will post 9.47 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio is currently 13.49%.

About Newmont

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.