New York State Teachers Retirement System decreased its position in Newmont Co. (NYSE:NEM – Free Report) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 856,375 shares of the basic materials company’s stock after selling 4,051 shares during the quarter. New York State Teachers Retirement System owned 0.07% of Newmont worth $35,856,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of NEM. LRI Investments LLC purchased a new position in shares of Newmont during the 1st quarter valued at approximately $25,000. Manchester Capital Management LLC boosted its stake in shares of Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after buying an additional 397 shares during the last quarter. Heritage Wealth Advisors boosted its stake in shares of Newmont by 1,310.4% during the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock valued at $34,000 after buying an additional 878 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Newmont during the 1st quarter valued at approximately $35,000. Finally, Rise Advisors LLC boosted its stake in shares of Newmont by 2,373.2% during the 1st quarter. Rise Advisors LLC now owns 1,014 shares of the basic materials company’s stock valued at $36,000 after buying an additional 973 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.
Newmont Price Performance
Shares of NEM opened at $52.04 on Friday. The firm has a market capitalization of $60.01 billion, a price-to-earnings ratio of -19.49, a price-to-earnings-growth ratio of 0.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. Newmont Co. has a one year low of $29.42 and a one year high of $52.40. The stock’s fifty day moving average is $46.36 and its 200-day moving average is $40.67.
Newmont Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s payout ratio is currently -37.45%.
Insider Buying and Selling
In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
NEM has been the subject of several research analyst reports. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $48.00 to $59.00 in a research note on Monday, August 19th. Bank of America raised their price objective on Newmont from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $50.00 in a research note on Monday, June 17th. Sanford C. Bernstein reduced their price objective on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday, May 16th. Finally, BNP Paribas upgraded Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.92.
Get Our Latest Analysis on NEM
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.
Further Reading
- Five stocks we like better than Newmont
- What is the NASDAQ Stock Exchange?
- CAVA Stock Rallies as Earnings Confirm It’s a Top Growth Play
- 3 Stocks to Consider Buying in October
- 3 High Short-Interest Stocks Poised for a Rate Cut Squeeze
- What is the Nikkei 225 index?
- MarketBeat Week in Review – 8/19 – 8/23
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Co. (NYSE:NEM – Free Report).
Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.