Employees Retirement System of Texas Raises Stock Holdings in Newmont Co. (NYSE:NEM)

Employees Retirement System of Texas boosted its stake in Newmont Co. (NYSE:NEM - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,275,642 shares of the basic materials company's stock after acquiring an additional 74,642 shares during the period. Employees Retirement System of Texas owned 0.11% of Newmont worth $47,479,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NEM. HHM Wealth Advisors LLC boosted its holdings in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 350 shares in the last quarter. Redwood Park Advisors LLC bought a new stake in Newmont in the fourth quarter valued at $37,000. Promus Capital LLC bought a new stake in Newmont in the fourth quarter valued at $38,000. Kestra Investment Management LLC bought a new stake in Newmont in the fourth quarter valued at $43,000. Finally, Assetmark Inc. boosted its holdings in Newmont by 185.9% in the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock valued at $47,000 after acquiring an additional 820 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the 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 $131,130.00. Following the completion of the sale, the executive vice president now directly owns 86,526 shares of the company's stock, valued at approximately $3,782,051.46. This represents a 3.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now directly owns 47,916 shares of the company's stock, valued at $2,094,408.36. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock valued at $328,840 in the last quarter. 0.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Newmont from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. National Bankshares restated a "sector perform" rating on shares of Newmont in a report on Wednesday, April 23rd. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Finally, Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $56.52.

Newmont Stock Performance

NYSE:NEM traded down $0.31 during mid-day trading on Thursday, reaching $52.54. The company's stock had a trading volume of 9,172,192 shares, compared to its average volume of 10,127,632. Newmont Co. has a 12-month low of $36.86 and a 12-month high of $58.72. The firm's fifty day moving average price is $51.29 and its two-hundred day moving average price is $45.38. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market cap of $58.47 billion, a P/E ratio of 17.93, a PEG ratio of 0.41 and a beta of 0.31.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's payout ratio is currently 22.42%.

Newmont Company 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.