Newmont Co. (NYSE:NEM) Holdings Lowered by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in Newmont Co. (NYSE:NEM - Free Report) by 5.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 owned 0.16% of Newmont worth $67,618,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC grew its stake in shares of Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock valued at $1,854,000 after buying an additional 18,722 shares during the last quarter. Nordea Investment Management AB increased 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 buying an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Newmont by 57.1% in 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 during the period. Brookstone Capital Management bought a new position in shares of Newmont during the fourth quarter valued at about $245,000. Finally, Moody National Bank Trust Division grew its position in shares of 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 worth $822,000 after buying an additional 2,645 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

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Newmont Stock Down 0.7 %

Shares of NYSE NEM traded down $0.35 during midday trading on Thursday, hitting $48.38. 17,425,238 shares of the company's stock were exchanged, compared to its average volume of 9,680,573. 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 twelve month low of $36.60 and a twelve month high of $58.72. The firm's fifty day simple moving average is $45.30 and its 200-day simple moving average is $45.39. The company has a market cap of $54.53 billion, a PE ratio of 16.51, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion for 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%. Research analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given 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 34.13%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares in the company, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 transaction, the chief operating officer now owns 145,967 shares of the company's stock, 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. In the last quarter, insiders sold 33,231 shares of company stock worth $1,388,758. 0.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on NEM. Royal Bank of Canada lifted their price target on Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Scotiabank decreased 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 note on Tuesday, January 21st. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 price objective on the stock. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. Finally, TD Securities dropped 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 assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $53.16.

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.