Kentucky Retirement Systems Has $2.94 Million Stake in Newmont Co. (NYSE:NEM)

Kentucky Retirement Systems cut its stake in Newmont Co. (NYSE:NEM) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,850 shares of the basic materials company’s stock after selling 1,086 shares during the period. Kentucky Retirement Systems’ holdings in Newmont were worth $2,935,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. ING Groep NV boosted its position in shares of Newmont by 142.6% during the fourth quarter. ING Groep NV now owns 372,412 shares of the basic materials company’s stock worth $13,861,000 after buying an additional 218,904 shares during the period. Boston Financial Mangement LLC lifted its stake in Newmont by 1.8% in the 4th quarter. Boston Financial Mangement LLC now owns 85,485 shares of the basic materials company’s stock valued at $3,182,000 after acquiring an additional 1,505 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in Newmont by 23.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 34,347 shares of the basic materials company’s stock worth $1,278,000 after acquiring an additional 6,549 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Newmont by 13.0% during the 4th quarter. Handelsbanken Fonder AB now owns 476,414 shares of the basic materials company’s stock worth $17,732,000 after acquiring an additional 54,667 shares during the last quarter. Finally, Alberta Investment Management Corp raised its holdings in shares of Newmont by 35.3% in the fourth quarter. Alberta Investment Management Corp now owns 341,601 shares of the basic materials company’s stock valued at $12,714,000 after purchasing an additional 89,201 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NEM. Raymond James reduced their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Scotiabank decreased their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada upped their price objective on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $53.37.

Newmont Price Performance

Shares of NEM opened at $45.25 on Friday. The company’s 50-day moving average is $41.56 and its 200-day moving average is $46.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a market capitalization of $51.52 billion, a PE ratio of -29.77, a PEG ratio of 0.40 and a beta of 0.52. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Equities analysts forecast that Newmont Co. will post 3.11 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.21%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

Insider Buying and Selling at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock valued at $1,166,843 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Profile

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.