New York State Common Retirement Fund Sells 21,300 Shares of Newmont Corporation (NYSE:NEM)

New York State Common Retirement Fund trimmed its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 1.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,355,241 shares of the basic materials company's stock after selling 21,300 shares during the period. New York State Common Retirement Fund owned approximately 0.12% of Newmont worth $65,431,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System lifted its holdings in Newmont by 2.2% during the 1st quarter. Arizona State Retirement System now owns 334,104 shares of the basic materials company's stock valued at $16,131,000 after purchasing an additional 7,329 shares during the last quarter. Realta Investment Advisors lifted its holdings in Newmont by 30.3% during the 1st quarter. Realta Investment Advisors now owns 15,047 shares of the basic materials company's stock valued at $726,000 after purchasing an additional 3,500 shares during the last quarter. Ballentine Partners LLC lifted its holdings in Newmont by 20.4% during the 1st quarter. Ballentine Partners LLC now owns 14,544 shares of the basic materials company's stock valued at $702,000 after purchasing an additional 2,467 shares during the last quarter. Fortem Financial Group LLC lifted its holdings in Newmont by 18.1% during the 1st quarter. Fortem Financial Group LLC now owns 33,018 shares of the basic materials company's stock valued at $1,594,000 after purchasing an additional 5,051 shares during the last quarter. Finally, Beirne Wealth Consulting Services LLC bought a new position in Newmont during the 1st quarter valued at about $236,000. 68.85% of the stock is owned by institutional investors.

Newmont Stock Up 0.6%

Shares of NYSE:NEM opened at $60.12 on Monday. Newmont Corporation has a one year low of $36.86 and a one year high of $60.40. The company has a 50 day moving average of $55.34 and a 200-day moving average of $49.06. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The stock has a market cap of $66.91 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 0.68 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter in the previous year, the company earned $0.55 earnings per share. On average, sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Tuesday, May 27th. Newmont's dividend payout ratio is currently 22.42%.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the completion of the transaction, the executive vice president owned 77,526 shares in the company, valued at approximately $4,193,381.34. The trade was a 3.73% 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, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the transaction, the director owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,231 shares of company stock valued at $679,813. Corporate insiders own 0.05% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Stifel Nicolaus started coverage on shares of Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price target for the company. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. UBS Group boosted their target price on shares of Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $61.45.

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.

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