Employees Retirement System of Texas Grows Holdings in Newmont Co. (NYSE:NEM)

Employees Retirement System of Texas lifted its position in shares of Newmont Co. (NYSE:NEM) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,275,642 shares of the basic materials company’s stock after buying an additional 74,642 shares during the quarter. Employees Retirement System of Texas owned approximately 0.11% of Newmont worth $47,479,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Van ECK Associates Corp raised its holdings in Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after acquiring an additional 797,445 shares during the last quarter. Geode Capital Management LLC raised its stake in Newmont by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company’s stock worth $919,484,000 after purchasing an additional 1,213,397 shares during the period. Norges Bank purchased a new stake in shares of Newmont during the 4th quarter valued at $626,074,000. Amundi increased its holdings in shares of Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after buying an additional 1,507,708 shares during the last quarter. Finally, Ruffer LLP raised its position in shares of Newmont by 19.7% in the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock worth $263,706,000 after buying an additional 1,164,870 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NEM shares. Scotiabank lowered their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Royal Bank of Canada increased their target price on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Friday. TD Securities reduced their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. Raymond James increased their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, National Bank Financial upgraded shares of Newmont to a “hold” rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $54.09.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Friday, January 10th. The stock was 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 directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock valued at $1,388,758 over the last three months. 0.05% of the stock is owned by insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $44.25 on Monday. 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 $36.60 and a fifty-two week high of $58.72. The business has a 50 day moving average price of $45.34 and a two-hundred day moving average price of $45.22. The firm has a market cap of $49.88 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. Sell-side analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. Newmont’s dividend payout ratio (DPR) is 34.13%.

Newmont 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.