Newmont Co. (NYSE:NEM) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in Newmont Co. (NYSE:NEM) 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 (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. Equities analysts anticipate that Newmont Co. will post 2.76 EPS for the current year.

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.

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.