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

California State Teachers Retirement System trimmed its stake in Newmont Co. (NYSE:NEM - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,818,499 shares of the basic materials company's stock after selling 117,099 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Newmont worth $67,685,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Newmont during the 4th quarter worth approximately $626,074,000. Voloridge Investment Management LLC acquired a new stake in shares of Newmont in the fourth quarter worth $92,693,000. Capital Research Global Investors increased its position in shares of Newmont by 70.7% in the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after acquiring an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Newmont during the 4th quarter valued at $76,281,000. Finally, Invesco Ltd. boosted its position in Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after purchasing an additional 2,028,150 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on NEM shares. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $50.00 to $60.00 in a research note on Friday, April 11th. Royal Bank of Canada raised their price target on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a report on Friday, April 4th. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Finally, Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and an average price target of $55.63.

Newmont Stock Performance

NEM stock traded up $0.01 during trading on Friday, hitting $51.50. 8,802,796 shares of the company's stock traded hands, compared to its average volume of 9,842,351. The stock has a fifty day moving average price of $48.42 and a two-hundred day moving average price of $45.15. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72. The stock has a market capitalization of $58.05 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. As a group, equities analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.94%. Newmont's dividend payout ratio is currently 22.42%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the sale, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the sale, the chief operating officer now directly owns 136,967 shares in the company, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,154 shares of company stock worth $825,678 in the last three months. 0.05% of the stock is owned by insiders.

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.