California Public Employees Retirement System Sells 111,695 Shares of Newmont Co. (NYSE:NEM)

California Public Employees Retirement System trimmed its holdings in shares of Newmont Co. (NYSE:NEM) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,816,711 shares of the basic materials company’s stock after selling 111,695 shares during the quarter. California Public Employees Retirement System’s holdings in Newmont were worth $67,618,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Newmont during the fourth quarter valued at $626,074,000. Zurich Insurance Group Ltd FI bought a new position in Newmont during the 3rd quarter valued at about $98,011,000. Allianz SE purchased a new stake in shares of Newmont during the 4th quarter valued at about $65,385,000. Nordea Investment Management AB grew its stake 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 worth $92,832,000 after acquiring an additional 1,578,545 shares during the period. Finally, Amundi raised its holdings in shares of Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after purchasing an additional 1,507,708 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.0 %

Shares of NEM stock opened at $48.29 on Wednesday. The company has a market capitalization of $54.44 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company’s fifty day moving average price is $45.03 and its 200-day moving average price is $45.35. Newmont Co. has a one year low of $36.44 and a one year high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 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 the consensus estimate of $5.32 billion. Sell-side analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the transaction, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock worth $1,388,758 over the last quarter. Insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. National Bank Financial raised Newmont to a “hold” rating in a research report on Friday, March 21st. Scotiabank reduced their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada raised their price objective 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target 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.