Newmont Co. (NYSE:NEM) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its holdings in Newmont Co. (NYSE:NEM) by 773.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 67,461 shares of the basic materials company’s stock after buying an additional 59,740 shares during the quarter. Teacher Retirement System of Texas’ holdings in Newmont were worth $2,511,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEM. Sanctuary Advisors LLC raised its holdings in Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after acquiring an additional 18,722 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after buying an additional 865,213 shares in the last quarter. Brookstone Capital Management acquired a new position in Newmont during the fourth quarter worth $245,000. Finally, Moody National Bank Trust Division grew its holdings in Newmont by 13.6% in the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock valued at $822,000 after buying an additional 2,645 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

Shares of NEM opened at $47.36 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a fifty-two week low of $34.18 and a fifty-two week high of $58.72. The company has a market cap of $53.38 billion, a P/E ratio of 16.16, a PEG ratio of 0.41 and a beta of 0.54. The firm’s 50 day moving average price is $44.52 and its 200 day moving average price is $45.50.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. On average, research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Insider Buying and Selling

In related news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Scotiabank lowered their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. TD Securities decreased their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada raised their price target on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Company 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.