Healthcare of Ontario Pension Plan Trust Fund Grows Stock Holdings in Newmont Co. (NYSE:NEM)

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Newmont Co. (NYSE:NEM) by 117.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 629,800 shares of the basic materials company’s stock after acquiring an additional 339,800 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Newmont were worth $26,370,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. LRI Investments LLC purchased a new stake in shares of Newmont in the 1st quarter valued at $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Newmont in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont in the 2nd quarter valued at $27,000. Heritage Wealth Advisors boosted its holdings in shares of Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 878 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Newmont in the 1st quarter valued at $35,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NYSE NEM opened at $53.20 on Friday. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $56.30. The stock has a market capitalization of $61.35 billion, a price-to-earnings ratio of -19.93, a price-to-earnings-growth ratio of 0.47 and a beta of 0.49. The firm has a 50-day simple moving average of $51.38 and a 200-day simple moving average of $44.74. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the business earned $0.33 earnings per share. Newmont’s revenue was up 64.1% compared to the same quarter last year. On average, equities analysts predict that Newmont Co. will post 2.88 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, September 5th. Newmont’s payout ratio is currently -37.45%.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares in the company, valued at $15,420,830.19. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at approximately $15,420,830.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,000 shares of company stock worth $3,434,640. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $48.00 to $59.00 in a report on Monday, August 19th. UBS Group increased their price target on shares of Newmont from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. downgraded shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Bank of America increased their price target on shares of Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, BMO Capital Markets increased their price target on shares of Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $52.62.

About Newmont

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.