New York State Teachers Retirement System Has $32.72 Million Stock Holdings in Newmont Co. (NYSE:NEM)

New York State Teachers Retirement System boosted its position in Newmont Co. (NYSE:NEM) by 2.1% in the 4th quarter, HoldingsChannel reports. The firm owned 879,047 shares of the basic materials company’s stock after acquiring an additional 18,035 shares during the period. New York State Teachers Retirement System’s holdings in Newmont were worth $32,718,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NEM. Exchange Traded Concepts LLC acquired a new stake in Newmont in the 3rd quarter valued at about $301,000. Creative Planning lifted its stake in Newmont by 23.4% in the 3rd quarter. Creative Planning now owns 129,379 shares of the basic materials company’s stock valued at $6,915,000 after purchasing an additional 24,536 shares during the last quarter. NBC Securities Inc. lifted its stake in Newmont by 13.9% in the 3rd quarter. NBC Securities Inc. now owns 4,466 shares of the basic materials company’s stock valued at $238,000 after purchasing an additional 544 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Newmont in the 3rd quarter valued at about $200,000. Finally, Good Life Advisors LLC lifted its stake in Newmont by 4.6% in the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after purchasing an additional 229 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEM has been the topic of several research analyst reports. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Bernstein Bank increased their price target on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Scotiabank lowered their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. Royal Bank of Canada raised their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.37.

Newmont Stock Performance

Shares of NYSE:NEM opened at $46.61 on Friday. The company’s 50 day simple moving average is $41.01 and its 200 day simple moving average is $46.50. The stock has a market capitalization of $53.06 billion, a price-to-earnings ratio of -30.66, a price-to-earnings-growth ratio of 0.38 and a beta of 0.52. 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 $29.42 and a 1 year high of $58.72.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Harry M. Iv Conger bought 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the transaction, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 28,154 shares of company stock worth $1,166,843 over the last quarter. Corporate insiders own 0.06% 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.