State of Alaska Department of Revenue Buys 36,645 Shares of Newmont Co. (NYSE:NEM)

State of Alaska Department of Revenue grew its stake in shares of Newmont Co. (NYSE:NEMFree Report) by 27.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 170,138 shares of the basic materials company’s stock after acquiring an additional 36,645 shares during the period. State of Alaska Department of Revenue’s holdings in Newmont were worth $7,041,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in Newmont by 13.0% in the 4th quarter. Blue Trust Inc. now owns 3,993 shares of the basic materials company’s stock worth $165,000 after buying an additional 460 shares during the period. Ellsworth Advisors LLC boosted its holdings in Newmont by 9.5% in the 4th quarter. Ellsworth Advisors LLC now owns 11,284 shares of the basic materials company’s stock worth $467,000 after buying an additional 983 shares during the period. LGT Capital Partners LTD. boosted its holdings in Newmont by 1.1% in the 4th quarter. LGT Capital Partners LTD. now owns 825,880 shares of the basic materials company’s stock worth $34,183,000 after buying an additional 9,380 shares during the period. Uncommon Cents Investing LLC boosted its holdings in Newmont by 18.9% in the 4th quarter. Uncommon Cents Investing LLC now owns 15,175 shares of the basic materials company’s stock worth $628,000 after buying an additional 2,410 shares during the period. Finally, A. D. Beadell Investment Counsel Inc. boosted its holdings in Newmont by 5.6% in the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 8,715 shares of the basic materials company’s stock worth $360,000 after buying an additional 465 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Newmont news, COO Robert D. Atkinson sold 5,500 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $41.26, for a total value of $226,930.00. Following the transaction, the chief operating officer now owns 54,251 shares in the company, valued at $2,238,396.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Securities cut their price objective on shares of Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a report on Friday, February 23rd. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a report on Wednesday, January 3rd. Scotiabank cut their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Royal Bank of Canada cut their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. Finally, Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $52.97.

Read Our Latest Report on NEM

Newmont Stock Performance

Newmont stock opened at $35.84 on Monday. The stock has a market cap of $41.32 billion, a P/E ratio of -15.06, a price-to-earnings-growth ratio of 3.06 and a beta of 0.49. The firm’s fifty day moving average price is $33.57 and its 200-day moving average price is $36.90. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $52.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25.

Newmont (NYSE:NEMGet Free Report) last issued its earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. Newmont’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. On average, equities research analysts expect that Newmont Co. will post 1.88 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s payout ratio is presently -42.02%.

About Newmont

(Free Report)

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.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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