Maryland State Retirement & Pension System Grows Stock Position in Newmont Co. (NYSE:NEM)

Maryland State Retirement & Pension System raised its stake in Newmont Co. (NYSE:NEM - Free Report) by 47.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 89,784 shares of the basic materials company's stock after purchasing an additional 29,017 shares during the quarter. Maryland State Retirement & Pension System's holdings in Newmont were worth $3,716,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Private Advisor Group LLC grew its stake in Newmont by 52.7% in the fourth quarter. Private Advisor Group LLC now owns 85,352 shares of the basic materials company's stock worth $3,533,000 after purchasing an additional 29,448 shares during the period. Summit Trail Advisors LLC grew its stake in Newmont by 20.4% in the fourth quarter. Summit Trail Advisors LLC now owns 7,491 shares of the basic materials company's stock worth $310,000 after purchasing an additional 1,269 shares during the period. Spire Wealth Management grew its stake in Newmont by 59.0% in the fourth quarter. Spire Wealth Management now owns 1,767 shares of the basic materials company's stock worth $73,000 after purchasing an additional 656 shares during the period. Metis Global Partners LLC grew its stake in Newmont by 43.2% in the fourth quarter. Metis Global Partners LLC now owns 84,412 shares of the basic materials company's stock worth $3,494,000 after purchasing an additional 25,464 shares during the period. Finally, Avidian Wealth Solutions LLC grew its stake in shares of Newmont by 8.6% in the fourth quarter. Avidian Wealth Solutions LLC now owns 12,201 shares of the basic materials company's stock worth $505,000 after acquiring an additional 963 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

NEM traded up $0.05 on Tuesday, hitting $41.45. 7,500,047 shares of the company's stock traded hands, compared to its average volume of 13,491,845. The company's 50 day simple moving average is $36.85 and its 200-day simple moving average is $37.01. The firm has a market cap of $47.79 billion, a price-to-earnings ratio of -15.52, a P/E/G ratio of 0.96 and a beta of 0.48. Newmont Co. has a one year low of $29.42 and a one year high of $49.08. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the company earned $0.40 EPS. Newmont's quarterly revenue was up 50.2% compared to the same quarter last year. As a group, research analysts anticipate that Newmont Co. will post 2.32 EPS for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont's dividend payout ratio (DPR) is presently -37.45%.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of recent research reports. TD Securities increased their target price on Newmont from $43.00 to $48.00 and gave the stock a "hold" rating in a research note on Friday, April 26th. Scotiabank dropped their price objective on Newmont from $50.00 to $43.50 and set a "sector perform" rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada dropped their price objective on Newmont from $45.00 to $40.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 8th. Citigroup dropped their price objective on Newmont from $60.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, April 4th. Finally, StockNews.com raised Newmont from a "sell" rating to a "hold" rating in a research report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Newmont has a consensus rating of "Moderate Buy" and an average price target of $48.35.

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.