Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of Newmont Co. (NYSE:NEM – Get Rating) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,417 shares of the basic materials company’s stock after selling 1,012 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Newmont were worth $1,266,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. TFO TDC LLC bought a new stake in Newmont in the 3rd quarter worth approximately $27,000. Avondale Wealth Management bought a new stake in Newmont in the 4th quarter worth approximately $28,000. HighMark Wealth Management LLC bought a new stake in Newmont in the 3rd quarter worth approximately $29,000. Clearstead Advisors LLC bought a new stake in Newmont in the 3rd quarter worth approximately $29,000. Finally, Manchester Capital Management LLC lifted its position in Newmont by 980.4% in the 3rd quarter. Manchester Capital Management LLC now owns 551 shares of the basic materials company’s stock worth $30,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 76.72% of the company’s stock.
A number of analysts recently weighed in on the company. StockNews.com assumed coverage on Newmont in a research report on Thursday, March 31st. They issued a “hold” rating for the company. National Bank Financial boosted their target price on Newmont from C$92.00 to C$98.00 in a research report on Friday, January 7th. Bank of America lifted their price target on Newmont from $70.00 to $75.00 in a research note on Monday, February 28th. Raymond James set a $82.00 price target on Newmont and gave the stock an “outperform” rating in a research note on Wednesday, April 13th. Finally, Fundamental Research lifted their price target on Newmont from $61.10 to $73.44 and gave the stock a “buy” rating in a research note on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of “Hold” and an average target price of $71.36.
Newmont (NYSE:NEM – Get Rating) last issued its quarterly earnings results on Thursday, February 24th. The basic materials company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.02. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Newmont had a return on equity of 10.19% and a net margin of 9.54%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 earnings per share. Sell-side analysts anticipate that Newmont Co. will post 3.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Investors of record on Thursday, March 10th were paid a $0.55 dividend. The ex-dividend date was Wednesday, March 9th. This represents a $2.20 annualized dividend and a yield of 2.58%. Newmont’s payout ratio is 151.72%.
In other Newmont news, SVP Blake Rhodes sold 500 shares of the business’s stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $62.00, for a total value of $31,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $62.00, for a total value of $434,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,343 shares of company stock worth $4,838,533. 0.11% of the stock is owned by insiders.
Newmont Company Profile (Get Rating)
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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.
- Get a free copy of the StockNews.com research report on Newmont (NEM)
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