Oregon Public Employees Retirement Fund Purchases 29,306 Shares of Newmont Corporation $NEM

Oregon Public Employees Retirement Fund increased its position in Newmont Corporation (NYSE:NEM) by 30.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,524 shares of the basic materials company’s stock after purchasing an additional 29,306 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Newmont were worth $10,583,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. raised its stake in shares of Newmont by 53.5% during the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after buying an additional 139 shares during the last quarter. Summit Financial Wealth Advisors LLC grew its holdings in Newmont by 2.3% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock worth $566,000 after acquiring an additional 145 shares during the period. Welch Group LLC raised its position in shares of Newmont by 1.3% during the 3rd quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock valued at $1,027,000 after acquiring an additional 153 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of Newmont by 17.6% in the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 170 shares during the period. Finally, IVC Wealth Advisors LLC boosted its position in shares of Newmont by 1.3% in the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after purchasing an additional 173 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NEM shares. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $111.00 price target on shares of Newmont in a research note on Monday, December 29th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Argus boosted their price objective on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Finally, Citigroup upped their target price on shares of Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $97.08.

Newmont Price Performance

Shares of NEM opened at $108.99 on Friday. The stock has a 50 day simple moving average of $94.34 and a 200 day simple moving average of $80.57. Newmont Corporation has a 52-week low of $38.53 and a 52-week high of $109.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The firm has a market capitalization of $118.94 billion, a PE ratio of 16.92, a P/E/G ratio of 0.79 and a beta of 0.41.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the company posted $0.81 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. Sell-side analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is presently 15.53%.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,160 shares of company stock worth $767,206 over the last ninety days. 0.05% of the stock is currently owned by insiders.

About Newmont

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.