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

California Public Employees Retirement System lowered its position in shares of Newmont Co. (NYSE:NEM) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,816,711 shares of the basic materials company’s stock after selling 111,695 shares during the period. California Public Employees Retirement System owned about 0.16% of Newmont worth $67,618,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McIlrath & Eck LLC boosted its stake in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares in the last quarter. HHM Wealth Advisors LLC lifted its stake in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. Promus Capital LLC purchased a new stake in Newmont during the fourth quarter valued at about $38,000. Kestra Investment Management LLC bought a new position in shares of Newmont during the fourth quarter valued at about $43,000. Finally, Assetmark Inc. increased its holdings in shares of Newmont by 185.9% in the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock worth $47,000 after buying an additional 820 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,231 shares of company stock worth $1,388,758. 0.05% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on NEM. Scotiabank reduced their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada raised their target price 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. National Bank Financial upgraded shares of Newmont to a “hold” rating in a report on Friday, March 21st. The Goldman Sachs Group began 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. Finally, StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Trading Up 0.0 %

NEM opened at $48.29 on Wednesday. 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 52 week low of $36.44 and a 52 week high of $58.72. The stock has a market cap of $54.44 billion, a PE ratio of 16.48, a PEG ratio of 0.41 and a beta of 0.54. The business has a 50 day moving average of $45.03 and a 200-day moving average of $45.35.

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. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities research analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

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.