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

Employees Retirement System of Texas increased its stake in Newmont Co. (NYSE:NEM - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,275,642 shares of the basic materials company's stock after purchasing an additional 74,642 shares during the quarter. Employees Retirement System of Texas owned about 0.11% of Newmont worth $47,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. Sanctuary Advisors LLC raised its holdings in shares of Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock valued at $1,854,000 after acquiring an additional 18,722 shares in the last quarter. Nordea Investment Management AB raised its stake in 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 valued at $92,832,000 after purchasing an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company's stock valued at $88,580,000 after purchasing an additional 865,213 shares during the last quarter. Brookstone Capital Management purchased a new position in Newmont in the 4th quarter worth approximately $245,000. Finally, Moody National Bank Trust Division raised its position in shares of Newmont by 13.6% during the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock valued at $822,000 after buying an additional 2,645 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NEM. Royal Bank of Canada upped 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, April 4th. Scotiabank reduced their price target on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 21st. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. StockNews.com raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Finally, The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.09.

Newmont Stock Up 5.6 %

NEM stock traded up $2.74 during midday trading on Thursday, hitting $51.49. The stock had a trading volume of 14,141,451 shares, compared to its average volume of 9,762,291. The business has a 50-day moving average of $45.78 and a two-hundred day moving average of $45.08. 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 firm has a market cap of $58.05 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52-week low of $36.60 and a 52-week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.29. The company 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%. As a group, equities research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders 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 dividend yield of 1.94%. Newmont's dividend payout ratio is presently 34.13%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares of the company's stock, valued at $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company'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 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. Insiders have sold 33,231 shares of company stock valued at $1,388,758 in the last ninety days. 0.05% of the stock is currently owned by company insiders.

About Newmont

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.