Teacher Retirement System of Texas Has $20.32 Million Stake in Newmont Corporation (NYSE:NEM)

Teacher Retirement System of Texas increased its position in Newmont Corporation (NYSE:NEM - Free Report) by 523.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 420,886 shares of the basic materials company's stock after buying an additional 353,425 shares during the quarter. Teacher Retirement System of Texas' holdings in Newmont were worth $20,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. Geode Capital Management LLC grew its holdings in Newmont by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after purchasing an additional 1,213,397 shares during the period. Norges Bank purchased a new position in Newmont during the 4th quarter worth $626,074,000. Northern Trust Corp raised its stake in shares of Newmont by 11.5% during the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock worth $474,263,000 after purchasing an additional 1,309,177 shares during the period. Amundi raised its stake in shares of Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after purchasing an additional 1,507,708 shares during the period. Finally, Invesco Ltd. raised its stake in shares of 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.

Analyst Upgrades and Downgrades

NEM has been the topic of several analyst reports. National Bank Financial upgraded Newmont to a "hold" rating in a research report on Friday, March 21st. UBS Group upped their target price on Newmont from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday. Raymond James Financial reiterated an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a report on Thursday, April 24th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Newmont in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.11.

Newmont Stock Performance

NEM opened at $59.86 on Friday. The stock's 50 day simple moving average is $54.67 and its 200 day simple moving average is $48.17. The stock has a market cap of $66.62 billion, a P/E ratio of 13.42, a P/E/G ratio of 0.79 and a beta of 0.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $60.31.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The business had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the firm earned $0.55 earnings per share. As a group, equities analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. Newmont's dividend payout ratio is currently 22.42%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president directly owned 74,526 shares of the company's stock, valued at $4,378,402.50. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the sale, the director owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,231 shares of company stock worth $679,813 in the last three months. Company insiders own 0.05% of the company's stock.

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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