State of Tennessee Department of Treasury Decreases Position in Newmont Co. (NYSE:NEM)

State of Tennessee Department of Treasury reduced its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,559 shares of the basic materials company's stock after selling 23,962 shares during the period. State of Tennessee Department of Treasury's holdings in Newmont were worth $12,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighPoint Advisor Group LLC boosted its holdings in shares of Newmont by 3.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock worth $223,000 after purchasing an additional 219 shares during the last quarter. Confluence Investment Management LLC boosted its stake in Newmont by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company's stock worth $439,000 after buying an additional 281 shares during the last quarter. Howard Capital Management Inc. grew its holdings in Newmont by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock valued at $210,000 after buying an additional 292 shares in the last quarter. Intact Investment Management Inc. increased its stake in shares of Newmont by 21.4% in the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock worth $63,000 after acquiring an additional 300 shares during the last quarter. Finally, Fiduciary Financial Group LLC raised its holdings in shares of Newmont by 3.6% during the 4th quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company's stock worth $338,000 after acquiring an additional 303 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 price objective for the company. BMO Capital Markets initiated coverage on shares of Newmont in a research report on Wednesday, April 16th. They set an "outperform" rating and a $63.00 price target on the stock. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. TD Securities cut their target price on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $55.02.

Newmont Stock Down 2.6 %

Shares of NYSE:NEM opened at $53.10 on Thursday. The firm's 50-day moving average is $47.58 and its two-hundred day moving average is $45.15. 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 1 year low of $36.86 and a 1 year high of $58.72. The firm has a market capitalization of $59.86 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. Analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Tuesday, March 4th. Newmont's payout ratio is currently 34.13%.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company'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 $131,130.00. Following the sale, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,154 shares of company stock worth $825,678. Company insiders own 0.05% of the company's stock.

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.

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