Teacher Retirement System of Texas Raises Holdings in Newmont Co. (NYSE:NEM)

Teacher Retirement System of Texas increased its position in shares of Newmont Co. (NYSE:NEM) by 773.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,461 shares of the basic materials company’s stock after buying an additional 59,740 shares during the period. Teacher Retirement System of Texas’ holdings in Newmont were worth $2,511,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurich Insurance Group Ltd FI purchased a new position in Newmont during the 3rd quarter valued at about $98,011,000. Nordea Investment Management AB increased its holdings in Newmont by 173.0% during 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 buying an additional 1,578,545 shares during the period. Amundi raised its stake in Newmont by 14.0% in the fourth 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 in the last quarter. FMR LLC lifted its holdings in Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after buying an additional 1,226,697 shares during the period. Finally, Ruffer LLP boosted its position in Newmont by 19.7% during the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock valued at $263,706,000 after acquiring an additional 1,164,870 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Activity at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares of the company’s stock, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock worth $1,388,758 in the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NEM. Scotiabank decreased their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research note on Friday, March 21st. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, TD Securities reduced their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Trading Down 0.4 %

NYSE NEM opened at $47.36 on Thursday. The company has a fifty day moving average of $44.52 and a 200 day moving average of $45.50. The company has a market capitalization of $53.38 billion, a PE ratio of 16.16, a P/E/G 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. Newmont Co. has a 1 year low of $34.18 and a 1 year high of $58.72.

Newmont (NYSE:NEM) last issued 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. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Tuesday, March 4th. 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.