California Public Employees Retirement System Has $221.97 Million Holdings in Newmont Co. (NYSE:NEM)

California Public Employees Retirement System grew its holdings in Newmont Co. (NYSE:NEM - Free Report) by 14.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,362,838 shares of the basic materials company's stock after acquiring an additional 671,110 shares during the period. California Public Employees Retirement System owned about 0.67% of Newmont worth $221,968,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NEM. International Assets Investment Management LLC raised its stake in shares of Newmont by 40.8% in the 3rd quarter. International Assets Investment Management LLC now owns 19,460 shares of the basic materials company's stock valued at $725,000 after acquiring an additional 5,638 shares during the period. AE Wealth Management LLC grew its holdings in Newmont by 2.5% during the 3rd quarter. AE Wealth Management LLC now owns 30,989 shares of the basic materials company's stock valued at $1,145,000 after purchasing an additional 767 shares in the last quarter. HB Wealth Management LLC grew its holdings in Newmont by 7.2% during the 3rd quarter. HB Wealth Management LLC now owns 10,877 shares of the basic materials company's stock valued at $402,000 after purchasing an additional 729 shares in the last quarter. Mcrae Capital Management Inc. grew its holdings in Newmont by 9.3% during the 3rd quarter. Mcrae Capital Management Inc. now owns 5,900 shares of the basic materials company's stock valued at $218,000 after purchasing an additional 500 shares in the last quarter. Finally, Meridian Wealth Management LLC grew its holdings in Newmont by 81.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 18,084 shares of the basic materials company's stock valued at $668,000 after purchasing an additional 8,139 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent analyst reports. StockNews.com lowered shares of Newmont from a "hold" rating to a "sell" rating in a report on Monday, February 26th. BMO Capital Markets decreased their price objective on shares of Newmont from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, February 15th. Royal Bank of Canada decreased their price objective on shares of Newmont from $45.00 to $40.00 and set a "sector perform" rating for the company in a report on Thursday, February 8th. National Bank Financial reissued an "outperform overweight" rating on shares of Newmont in a report on Monday, April 8th. Finally, TD Securities decreased their price objective on shares of Newmont from $40.00 to $36.00 and set a "hold" rating for the company in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $50.89.

Newmont Stock Performance

NYSE:NEM traded up $0.25 during mid-day trading on Tuesday, hitting $37.71. The stock had a trading volume of 11,804,394 shares, compared to its average volume of 13,516,920. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $50.18. The stock has a market capitalization of $43.47 billion, a price-to-earnings ratio of -15.84, a P/E/G ratio of 1.05 and a beta of 0.50. The company has a 50 day simple moving average of $35.01 and a 200-day simple moving average of $36.86. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter last year, the firm posted $0.44 earnings per share. The firm's quarterly revenue was up 23.7% compared to the same quarter last year. On average, research analysts expect that Newmont Co. will post 1.98 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. Newmont's dividend payout ratio (DPR) is -42.02%.

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.