PBU The Pension Fund of Early Childhood & Youth Educators Makes New $13.07 Million Investment in Newmont Corporation $NEM

PBU The Pension Fund of Early Childhood & Youth Educators purchased a new position in Newmont Corporation (NYSE:NEM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 130,874 shares of the basic materials company’s stock, valued at approximately $13,068,000.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Newmont by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after buying an additional 637,996 shares in the last quarter. Geode Capital Management LLC increased its stake in Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after buying an additional 946,824 shares in the last quarter. Norges Bank purchased a new stake in Newmont in the 4th quarter worth $1,443,128,000. Bank of New York Mellon Corp increased its stake in Newmont by 6.7% in the 4th quarter. Bank of New York Mellon Corp now owns 11,622,479 shares of the basic materials company’s stock worth $1,160,505,000 after buying an additional 725,012 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Newmont by 9.6% during the 3rd quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company’s stock valued at $687,223,000 after purchasing an additional 711,940 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 7.9%

Shares of NYSE:NEM opened at $99.77 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $52.08 and a 12 month high of $134.88. The company has a 50-day moving average price of $111.70 and a 200 day moving average price of $109.55. The company has a market cap of $106.51 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.80 and a beta of 0.42.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, equities research analysts predict that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

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

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This represents a 2.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares in the company, valued at $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. Insiders sold a total of 49,950 shares of company stock worth $5,494,288 over the last three months. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on NEM. Citigroup increased their price objective on shares of Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Canaccord Genuity Group increased their price objective on shares of Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Barclays began coverage on shares of Newmont in a report on Thursday, May 21st. They set an “overweight” rating and a $133.00 price objective for the company. Finally, Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $121.00 to $157.00 in a report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $142.07.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts and commentators continue to highlight Newmont’s strong fundamentals, including robust free cash flow, higher gold prices, a large buyback program, and improving operational efficiency as the company divests lower-yield assets. Newmont Corporation: Consider Hedging Against Global Economic Uncertainty With This Stock
• Positive Sentiment: RBC Capital kept an outperform view on Newmont even after trimming its price target, suggesting Wall Street still sees upside from current levels. Newmont (NEM) Is Among Gold Equities Trading At A Premium Valuation Relative To Peers, Says RBC Capital

Newmont Profile

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.