State of New Jersey Common Pension Fund D Grows Stake in Newmont Co. (NYSE:NEM)

State of New Jersey Common Pension Fund D lifted its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 48.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 657,199 shares of the basic materials company's stock after buying an additional 213,046 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.08% of Newmont worth $27,201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Newmont by 17.6% during the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company's stock worth $3,051,291,000 after buying an additional 12,360,775 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Newmont by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company's stock valued at $628,278,000 after purchasing an additional 483,377 shares during the period. Northern Trust Corp lifted its position in Newmont by 5.7% during the third quarter. Northern Trust Corp now owns 10,316,723 shares of the basic materials company's stock valued at $381,203,000 after purchasing an additional 554,513 shares during the period. Invesco Ltd. lifted its position in Newmont by 5.8% during the third quarter. Invesco Ltd. now owns 7,827,670 shares of the basic materials company's stock valued at $289,232,000 after purchasing an additional 428,537 shares during the period. Finally, Legal & General Group Plc lifted its position in Newmont by 0.5% during the third quarter. Legal & General Group Plc now owns 6,470,393 shares of the basic materials company's stock valued at $239,205,000 after purchasing an additional 34,651 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Down 1.6 %

Shares of NYSE:NEM traded down $0.68 during trading hours on Friday, reaching $42.73. The stock had a trading volume of 14,214,859 shares, compared to its average volume of 13,801,380. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $50.18. The firm's 50 day moving average is $35.35 and its 200-day moving average is $36.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a market capitalization of $49.26 billion, a price-to-earnings ratio of -18.02, a P/E/G ratio of 1.07 and a beta of 0.50.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm posted $0.40 EPS. The company's quarterly revenue was up 50.2% compared to the same quarter last year. Research analysts predict that Newmont Co. will post 1.99 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont's dividend payout ratio (DPR) is -42.02%.

Analyst Ratings Changes

NEM has been the subject of a number of research reports. Citigroup decreased their target price on shares of Newmont from $60.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, April 4th. Argus downgraded shares of Newmont from a "buy" rating to a "hold" rating in a research report on Monday, February 26th. StockNews.com downgraded shares of Newmont from a "hold" rating to a "sell" rating in a research report on Monday, February 26th. Jefferies Financial Group assumed coverage on shares of Newmont in a research report on Thursday, February 29th. They issued a "buy" rating and a $38.00 price objective for the company. Finally, National Bank Financial reiterated an "outperform overweight" rating on shares of Newmont in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $51.75.

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.

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