Public Employees Retirement Association of Colorado Cuts Stock Position in Newmont Co. (NYSE:NEM)

Public Employees Retirement Association of Colorado reduced its position in Newmont Co. (NYSE:NEM - Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,541 shares of the basic materials company's stock after selling 5,512 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in Newmont were worth $5,789,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEM. Norges Bank purchased a new position in shares of Newmont in the 4th quarter worth about $626,074,000. Capital Research Global Investors boosted its holdings in shares of Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after purchasing an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Newmont in the 4th quarter worth about $76,281,000. Invesco Ltd. boosted its holdings in shares of Newmont by 23.9% in the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after purchasing an additional 2,028,150 shares in the last quarter. Finally, Allianz SE purchased a new stake in Newmont during the 4th quarter valued at about $65,385,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on NEM. Royal Bank of Canada increased their target price on Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a report on Friday, April 4th. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Argus set a $63.00 target price on Newmont in a report on Friday. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a report on Thursday. Finally, Raymond James reiterated an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.63.

Newmont Stock Up 0.2 %

NYSE NEM opened at $54.05 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average of $48.02 and a two-hundred day moving average of $45.07. The firm has a market capitalization of $60.93 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period in the previous year, the firm earned $0.55 earnings per share. On average, analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's payout ratio is presently 22.42%.

Insider Buying and Selling

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the sale, the chief operating officer now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were 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 directly owns 47,916 shares of the company's stock, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock valued at $825,678 in the last 90 days. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.