Treasurer of the State of North Carolina Buys 18,860 Shares of Newmont Co. (NYSE:NEM)

Treasurer of the State of North Carolina raised its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 697,005 shares of the basic materials company's stock after acquiring an additional 18,860 shares during the quarter. Treasurer of the State of North Carolina owned approximately 0.06% of Newmont worth $25,943,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Redwood Park Advisors LLC purchased a new stake in Newmont in the fourth quarter worth about $37,000. Phoenix Financial Ltd. raised its stake in Newmont by 35.7% during the fourth quarter. Phoenix Financial Ltd. now owns 10,668 shares of the basic materials company's stock valued at $397,000 after buying an additional 2,807 shares during the last quarter. DRW Securities LLC bought a new stake in Newmont in the fourth quarter worth $285,000. Waddell & Associates LLC grew its stake in shares of Newmont by 13.3% in the fourth quarter. Waddell & Associates LLC now owns 8,804 shares of the basic materials company's stock worth $328,000 after acquiring an additional 1,031 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Newmont during the fourth quarter valued at $35,117,000. Institutional investors own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent analyst reports. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and increased their price objective for the company from $50.00 to $60.00 in a research report on Friday. StockNews.com raised shares of Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Royal Bank of Canada upped their price objective on Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research report on Friday, April 4th. TD Securities reduced their target price on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. Finally, Raymond James upped their price target on Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a report on Friday, April 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.55.

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Newmont Stock Performance

NYSE NEM traded down $0.07 on Monday, reaching $54.90. 11,461,637 shares of the stock were exchanged, compared to its average volume of 9,824,154. The company's 50-day simple moving average is $46.17 and its two-hundred day simple moving average is $44.97. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $61.89 billion, a PE ratio of 18.74, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a one year low of $36.60 and a one year high of $58.72.

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

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. Newmont's dividend payout ratio is 34.13%.

Insider Activity at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the sale, the chief operating officer now owns 136,967 shares of the company's stock, valued at $5,874,514.63. The trade was a 6.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the 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 transaction, the director now owns 47,916 shares of the company's stock, valued at $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,154 shares of company stock valued at $825,678. Corporate insiders own 0.05% of the company's stock.

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.