Teacher Retirement System of Texas Purchases 59,740 Shares of Newmont Co. (NYSE:NEM)

Teacher Retirement System of Texas boosted its stake in Newmont Co. (NYSE:NEM - Free Report) by 773.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,461 shares of the basic materials company's stock after purchasing an additional 59,740 shares during the period. Teacher Retirement System of Texas' holdings in Newmont were worth $2,511,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NEM. Royal London Asset Management Ltd. increased its position in Newmont by 4.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 497,828 shares of the basic materials company's stock valued at $18,529,000 after acquiring an additional 22,682 shares during the last quarter. Generali Investments Management Co LLC bought a new stake in Newmont during the fourth quarter valued at about $126,000. OVERSEA CHINESE BANKING Corp Ltd increased its position in Newmont by 10.8% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,366 shares of the basic materials company's stock worth $544,000 after buying an additional 1,397 shares in the last quarter. Xponance Inc. raised its stake in shares of Newmont by 0.6% in the fourth quarter. Xponance Inc. now owns 166,085 shares of the basic materials company's stock worth $6,182,000 after buying an additional 1,001 shares during the period. Finally, Generali Asset Management SPA SGR purchased a new position in shares of Newmont during the 4th quarter valued at about $32,742,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 target price on the stock. TD Securities lowered their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. Scotiabank dropped their target price on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a report on Tuesday, January 21st. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. Finally, StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $53.16.

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Newmont Trading Down 0.7 %

Shares of Newmont stock traded down $0.33 on Friday, reaching $48.06. The company had a trading volume of 11,246,684 shares, compared to its average volume of 9,699,216. The firm's 50-day moving average price is $44.78 and its two-hundred day moving average price is $45.42. Newmont Co. has a 1 year low of $36.10 and a 1 year high of $58.72. The firm has a market cap of $54.17 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 0.41 and a beta of 0.54. 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 (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 business had revenue of $5.65 billion for the quarter, compared to analysts' expectations of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, research analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Tuesday, March 4th. Newmont's dividend payout ratio (DPR) is currently 34.13%.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the firm'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 transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company's stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock valued at $1,388,758 over the last 90 days. 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.