New York State Teachers Retirement System Sells 13,654 Shares of Newmont Corporation $NEM

New York State Teachers Retirement System trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,038,415 shares of the basic materials company’s stock after selling 13,654 shares during the quarter. New York State Teachers Retirement System’s holdings in Newmont were worth $87,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NEM. Concord Wealth Partners grew its stake in shares of Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the period. Evermay Wealth Management LLC boosted its holdings in shares of Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after buying an additional 400 shares during the last quarter. Capital A Wealth Management LLC grew its position in Newmont by 1,648.3% during the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after buying an additional 478 shares during the period. Caldwell Trust Co purchased a new stake in Newmont during the second quarter valued at approximately $31,000. Finally, Country Trust Bank purchased a new stake in Newmont during the second quarter valued at approximately $32,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the topic of several analyst reports. CIBC set a $112.00 price target on shares of Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. TD Securities lifted their target price on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. National Bankshares boosted their price target on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, BNP Paribas Exane downgraded Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price objective on the stock. in a research note on Friday, December 5th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Newmont has an average rating of “Buy” and an average price target of $97.08.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,160 shares of company stock worth $767,206 over the last quarter. 0.05% of the stock is owned by company insiders.

Newmont Price Performance

Shares of Newmont stock opened at $108.99 on Friday. The company has a market capitalization of $118.94 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 0.80 and a beta of 0.41. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock’s 50-day simple moving average is $94.34 and its 200-day simple moving average is $80.73. Newmont Corporation has a 52 week low of $38.53 and a 52 week high of $109.30.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the company earned $0.81 EPS. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s dividend payout ratio is 15.53%.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.