Kentucky Retirement Systems Insurance Trust Fund Has $1.36 Million Position in Newmont Co. (NYSE:NEM)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in Newmont Co. (NYSE:NEM) by 7.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,033 shares of the basic materials company’s stock after selling 3,026 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Newmont were worth $1,363,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Life Planning Partners Inc acquired a new position in shares of Newmont during the fourth quarter valued at about $26,000. Manchester Capital Management LLC lifted its position in shares of Newmont by 171.9% in the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 397 shares during the period. CVA Family Office LLC acquired a new stake in shares of Newmont during the 4th quarter worth approximately $34,000. Heritage Wealth Advisors raised its stake in shares of Newmont by 1,310.4% in the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 878 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in Newmont during the first quarter worth $35,000. 68.85% of the stock is owned by institutional investors.

Newmont Stock Up 0.4 %

NYSE NEM traded up $0.17 on Monday, reaching $46.90. The company had a trading volume of 1,816,639 shares, compared to its average volume of 11,254,075. The firm has a market capitalization of $53.81 billion, a price-to-earnings ratio of -17.50, a price-to-earnings-growth ratio of 0.37 and a beta of 0.47. The company’s fifty day moving average is $43.39 and its 200-day moving average is $38.78. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $48.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11.

Newmont (NYSE:NEM) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 EPS. On average, research analysts forecast that Newmont Co. will post 2.67 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.13%. Newmont’s dividend payout ratio is -37.45%.

Analysts Set New Price Targets

Several equities analysts recently commented on NEM shares. Citigroup cut their target price on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Sanford C. Bernstein dropped their target price on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating for the company in a research note on Thursday, May 16th. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Finally, BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by company 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.