138,815 Shares in Newmont Corporation $NEM Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue bought a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 138,815 shares of the basic materials company’s stock, valued at approximately $16,010,000.

Several other large investors also recently bought and sold shares of NEM. BlackRock Inc. purchased a new position in Newmont during the second quarter worth $11,289,753,000. Van ECK Associates Corp purchased a new position in shares of Newmont during the 2nd quarter worth about $671,197,000. Bank of New York Mellon Corp bought a new position in Newmont during the 2nd quarter valued at about $1,219,505,000. First Eagle Investment Management LLC bought a new position in Newmont during the 2nd quarter valued at about $241,820,000. Finally, Amundi bought a new position in Newmont during the 2nd quarter valued at about $209,411,000. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 2.1%

NEM traded up $2.29 on Thursday, reaching $113.85. 2,690,675 shares of the company traded hands, compared to its average volume of 8,554,959. The company has a market cap of $119.96 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 2.14 and a beta of 0.51. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. Newmont Corporation has a one year low of $76.05 and a one year high of $135.29. The firm has a fifty day simple moving average of $121.75 and a two-hundred day simple moving average of $110.69.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the prior year, the firm earned $1.43 EPS. As a group, equities research analysts expect that Newmont Corporation will post 9.05 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were issued a $0.26 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s payout ratio is presently 13.13%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NEM. Argus set a $110.00 price objective on shares of Newmont in a research note on Monday, August 3rd. Weiss Ratings raised Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 2nd. The Goldman Sachs Group cut their target price on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Jefferies Financial Group reduced their price target on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Finally, Citigroup decreased their price target on Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $134.26.

Insider Buying and Selling

In related news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president owned 34,315 shares in the company, valued at $3,939,705.15. The trade was a 8.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 35,973 shares of company stock valued at $3,927,169 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Newmont Company Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.