Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Position in Newmont Corporation $NEM

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Newmont Corporation (NYSE:NEM) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 272,969 shares of the basic materials company’s stock after purchasing an additional 12,620 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Newmont were worth $15,903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares during the period. CWM LLC grew its position in shares of Newmont by 12.7% in the 1st quarter. CWM LLC now owns 18,670 shares of the basic materials company’s stock worth $901,000 after buying an additional 2,103 shares during the period. Sigma Planning Corp bought a new position in shares of Newmont in the 1st quarter worth about $211,000. Apollon Wealth Management LLC lifted its position in Newmont by 37.6% during the 1st quarter. Apollon Wealth Management LLC now owns 10,973 shares of the basic materials company’s stock valued at $530,000 after acquiring an additional 2,997 shares during the period. Finally, Larson Financial Group LLC boosted its stake in Newmont by 22.0% during the first quarter. Larson Financial Group LLC now owns 3,866 shares of the basic materials company’s stock worth $187,000 after acquiring an additional 696 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NEM. Citigroup raised their target price on shares of Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. BNP Paribas Exane upped their price target on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $71.50 to $114.00 in a research report on Thursday, October 23rd. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Finally, Bank of America increased their target price on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Newmont currently has an average rating of “Buy” and an average target price of $88.99.

Newmont Price Performance

Shares of NEM opened at $87.74 on Friday. Newmont Corporation has a twelve month low of $36.86 and a twelve month high of $98.58. The company has a market capitalization of $95.75 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The firm has a 50 day moving average of $84.58 and a 200 day moving average of $68.80. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the business posted $0.81 EPS. The company’s revenue was up 20.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio is currently 15.53%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the sale, the director owned 34,789 shares of the company’s stock, valued at $2,816,517.44. This trade represents a 5.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 11,237 shares of company stock worth $906,799. Insiders own 0.05% of the company’s stock.

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.