New York State Teachers Retirement System boosted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,052,069 shares of the basic materials company's stock after purchasing an additional 82,818 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Newmont worth $61,294,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in NEM. Brighton Jones LLC increased its holdings in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after purchasing an additional 1,847 shares in the last quarter. GAMMA Investing LLC increased its holdings in Newmont by 22.2% in the first quarter. GAMMA Investing LLC now owns 21,146 shares of the basic materials company's stock worth $1,021,000 after purchasing an additional 3,840 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Newmont by 2.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 190,069 shares of the basic materials company's stock worth $9,176,000 after purchasing an additional 4,236 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Newmont by 9.2% in the first quarter. Janney Montgomery Scott LLC now owns 177,531 shares of the basic materials company's stock worth $8,571,000 after purchasing an additional 14,980 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of Newmont during the first quarter valued at approximately $335,000. 68.85% of the stock is currently owned by institutional investors.
Newmont Trading Up 5.0%
Shares of Newmont stock opened at $98.22 on Friday. The stock has a fifty day simple moving average of $78.81 and a 200 day simple moving average of $63.68. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $98.58. The company has a market capitalization of $107.89 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.02 and a beta of 0.34. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.
Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Newmont's revenue was up 20.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.
Newmont Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.0%. Newmont's dividend payout ratio is 17.95%.
Insider Buying and Selling
In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the transaction, the director owned 36,869 shares of the company's stock, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Stifel Canada upgraded Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Stifel Nicolaus assumed coverage on Newmont in a report on Wednesday, July 9th. They set a "buy" rating and a $73.00 price objective for the company. UBS Group boosted their price objective on Newmont from $92.00 to $105.50 and gave the company a "buy" rating in a report on Thursday. Bank of America boosted their price objective on Newmont from $105.00 to $115.00 and gave the company a "buy" rating in a report on Thursday. Finally, Scotiabank boosted their price objective on Newmont from $69.00 to $72.00 and gave the company a "sector perform" rating in a report on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.59.
View Our Latest Stock Report on Newmont
Newmont Company Profile
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Free Report)
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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