State of Wyoming Invests $537,000 in Newmont Corporation $NEM

State of Wyoming acquired a new stake in shares of Newmont Corporation (NYSE:NEM) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 5,745 shares of the basic materials company’s stock, valued at approximately $537,000.

Other hedge funds also recently made changes to their positions in the company. Leonteq Securities AG bought a new position in Newmont during the fourth quarter valued at approximately $9,018,000. ARS Investment Partners LLC lifted its holdings in shares of Newmont by 3.6% in the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock worth $69,602,000 after acquiring an additional 23,900 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Newmont by 37.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 214,282 shares of the basic materials company’s stock worth $21,440,000 after acquiring an additional 58,690 shares during the last quarter. iA Global Asset Management Inc. boosted its stake in shares of Newmont by 156.9% in the 4th quarter. iA Global Asset Management Inc. now owns 221,790 shares of the basic materials company’s stock valued at $22,146,000 after purchasing an additional 135,446 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Newmont during the 4th quarter valued at $21,893,000. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 2.2%

NEM opened at $120.35 on Tuesday. Newmont Corporation has a one year low of $67.20 and a one year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The business has a 50 day simple moving average of $99.36 and a two-hundred day simple moving average of $108.81. The firm has a market capitalization of $126.81 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.31 and a beta of 0.47.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The firm had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period last year, the company earned $1.43 EPS. Analysts predict that Newmont Corporation will post 9 EPS for the current year.

Newmont Dividend Announcement

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

Wall Street Analyst Weigh In

NEM has been the topic of a number of analyst reports. Scotiabank lifted their target price on shares of Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Macquarie Infrastructure decreased their price objective on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. National Bank Financial decreased their price objective on Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Finally, Argus set a $110.00 target price on Newmont in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $132.59.

Insider Activity at Newmont

In other news, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. The trade was a 5.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the transaction, the executive vice president owned 40,315 shares in the company, valued at $3,767,436.75. This represents a 6.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,091 shares of company stock worth $3,292,513 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long?lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.