Teachers Retirement System of The State of Kentucky Purchases 24,819 Shares of Newmont Co. (NYSE:NEM)

Teachers Retirement System of The State of Kentucky grew its position in Newmont Co. (NYSE:NEM) by 35.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,471 shares of the basic materials company’s stock after acquiring an additional 24,819 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Newmont were worth $3,386,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NEM. Vanguard Group Inc. boosted its stake in shares of Newmont by 43.8% during the 4th quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock worth $4,915,059,000 after acquiring an additional 36,170,995 shares during the period. Van ECK Associates Corp lifted its position in shares of Newmont by 57.2% during the 4th quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock valued at $2,122,913,000 after acquiring an additional 18,664,614 shares during the period. Norges Bank acquired a new stake in shares of Newmont during the 4th quarter worth $604,516,000. Charles Schwab Investment Management Inc. raised its stake in Newmont by 44.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock valued at $1,019,813,000 after purchasing an additional 7,635,657 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Newmont by 39.8% in the 1st quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock valued at $832,354,000 after buying an additional 6,617,145 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 2.1 %

Shares of NEM stock traded down $1.04 on Friday, hitting $48.51. The stock had a trading volume of 11,810,484 shares, compared to its average volume of 8,106,169. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.72. The stock has a market cap of $55.66 billion, a price-to-earnings ratio of -18.17, a price-to-earnings-growth ratio of 0.37 and a beta of 0.47. The business has a 50 day moving average of $43.95 and a 200 day moving average of $39.16. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS. As a group, analysts expect that Newmont Co. will post 2.76 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio is -37.45%.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $42.13, for a total value of $547,690.00. Following the sale, the chief executive officer now directly owns 331,469 shares in the company, valued at $13,964,788.97. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the topic of several research analyst reports. TD Securities raised their price objective on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, April 26th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and increased their price objective for the company from $40.00 to $50.00 in a report on Monday, June 17th. Jefferies Financial Group boosted their price target on shares of Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.00.

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.