New York State Teachers Retirement System Increases Position in Newmont Corporation (NYSE:NEM)

New York State Teachers Retirement System raised its position in Newmont Corporation (NYSE:NEM - Free Report) by 10.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 969,251 shares of the basic materials company's stock after purchasing an additional 90,204 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Newmont worth $46,795,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Newmont during the 4th quarter worth approximately $626,074,000. Voloridge Investment Management LLC purchased a new stake in Newmont in the fourth quarter worth $92,693,000. Capital Research Global Investors lifted its position in shares of Newmont by 70.7% during 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 purchasing an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Newmont during the fourth quarter valued at $76,281,000. Finally, Invesco Ltd. boosted its stake in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after purchasing an additional 2,028,150 shares during the period. Institutional investors own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. Royal Bank Of Canada boosted their price target on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Raymond James Financial restated an "outperform" rating and set a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. Finally, National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.11.

Newmont Stock Down 0.3%

Shares of NYSE NEM traded down $0.20 during mid-day trading on Friday, reaching $59.86. 5,387,327 shares of the company were exchanged, compared to its average volume of 10,602,512. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $60.31. The firm has a 50-day moving average of $54.55 and a 200 day moving average of $48.03. The stock has a market cap of $66.62 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 0.79 and a beta of 0.33. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The business had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. On average, research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.67%. Newmont's dividend payout ratio (DPR) is 22.42%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the sale, the director owned 43,103 shares of the company's stock, valued at $2,532,301.25. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the transaction, the executive vice president directly owned 77,526 shares in the company, valued at $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,231 shares of company stock worth $679,813 over the last ninety days. Corporate insiders own 0.05% of the company's stock.

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.