Newmont Corporation $NEM Shares Sold by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 14.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 230,556 shares of the basic materials company’s stock after selling 39,200 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Newmont were worth $23,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Apella Capital LLC lifted its stake in shares of Newmont by 4.1% in the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after purchasing an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC lifted its stake in shares of Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after purchasing an additional 88 shares during the last quarter. Novem Group lifted its stake in shares of Newmont by 3.7% in the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 88 shares during the last quarter. Norden Group LLC lifted its stake in shares of Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after purchasing an additional 90 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC raised its holdings in shares of Newmont by 1.2% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 9,240 shares of the basic materials company’s stock valued at $923,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $108.58 on Monday. Newmont Corporation has a 12 month low of $48.27 and a 12 month high of $134.88. The firm has a market capitalization of $115.91 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.55 and a beta of 0.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The company’s fifty day moving average price is $113.57 and its 200 day moving average price is $105.57.

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

Newmont Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Newmont from $162.00 to $165.00 and gave the company a “buy” rating in a report on Friday, April 10th. Canaccord Genuity Group boosted their price objective on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded Newmont from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. Bank of America boosted their price objective on Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, UBS Group cut their price objective on Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average target price of $142.51.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total value of $339,270.00. Following the completion of the sale, the executive vice president directly owned 52,315 shares of the company’s stock, valued at approximately $5,916,303.35. The trade was a 5.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David James Fry sold 18,394 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares of the company’s stock, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,394 shares of company stock valued at $2,713,281 over the last three months. Company insiders own 0.06% of the company’s stock.

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.