New York State Common Retirement Fund Sells 23,600 Shares of Newmont Co. (NYSE:NEM)

New York State Common Retirement Fund decreased its holdings in Newmont Co. (NYSE:NEM - Free Report) by 1.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,376,541 shares of the basic materials company's stock after selling 23,600 shares during the period. New York State Common Retirement Fund owned approximately 0.12% of Newmont worth $51,235,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Hara Capital LLC raised its holdings in Newmont by 27.8% during the 4th quarter. Hara Capital LLC now owns 35,315 shares of the basic materials company's stock valued at $1,314,000 after buying an additional 7,676 shares during the last quarter. Valley Wealth Managers Inc. increased its stake in shares of Newmont by 9.2% in the 4th quarter. Valley Wealth Managers Inc. now owns 333,414 shares of the basic materials company's stock worth $12,410,000 after acquiring an additional 28,088 shares in the last quarter. Bfsg LLC grew its position in Newmont by 47.7% during the 4th quarter. Bfsg LLC now owns 178,566 shares of the basic materials company's stock valued at $6,646,000 after purchasing an additional 57,690 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Newmont during the 4th quarter valued at about $43,000. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in shares of Newmont by 0.7% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 276,273 shares of the basic materials company's stock valued at $10,283,000 after acquiring an additional 1,875 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Shares of NEM stock traded down $2.84 during mid-day trading on Friday, hitting $45.25. The company had a trading volume of 17,229,932 shares, compared to its average volume of 9,321,229. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The stock's 50 day moving average price is $41.56 and its 200-day moving average price is $46.46. 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 company has a market capitalization of $51.52 billion, a P/E ratio of 15.44, a P/E/G ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Equities research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Tuesday, March 4th. Newmont's dividend payout ratio (DPR) is presently 34.13%.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the sale, the executive vice president now owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the transaction, the director now directly owns 14,498 shares of the company's stock, valued at $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NEM. Scotiabank dropped their price target on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 21st. CIBC cut shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research note on Monday, October 28th. Cibc World Mkts cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They issued an "underperform" rating on the stock. Finally, Raymond James lowered their price objective on shares of Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.37.

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.