Public Employees Retirement Association of Colorado Has $5.79 Million Stake in Newmont Co. (NYSE:NEM)

Public Employees Retirement Association of Colorado cut its stake in Newmont Co. (NYSE:NEM - Free Report) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,541 shares of the basic materials company's stock after selling 5,512 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in Newmont were worth $5,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NEM. McIlrath & Eck LLC increased its position in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock worth $43,000 after buying an additional 361 shares during the last quarter. Virtu Financial LLC increased its position in Newmont by 183.2% during the third quarter. Virtu Financial LLC now owns 23,136 shares of the basic materials company's stock worth $1,237,000 after buying an additional 14,967 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Newmont during the third quarter worth $422,000. Cim Investment Management Inc. acquired a new position in Newmont during the third quarter worth $1,033,000. Finally, Tidal Investments LLC increased its position in Newmont by 5.4% during the third quarter. Tidal Investments LLC now owns 163,695 shares of the basic materials company's stock worth $8,749,000 after buying an additional 8,412 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the transaction, the director now owns 49,993 shares of the company's stock, valued at approximately $2,144,199.77. This represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the transaction, the chief operating officer now directly owns 136,967 shares in the company, valued at $5,874,514.63. The trade was a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock valued at $825,678 over the last 90 days. 0.05% of the stock is owned by company insiders.

Newmont Price Performance

Newmont stock traded down $0.27 on Wednesday, reaching $52.69. The company's stock had a trading volume of 11,101,634 shares, compared to its average volume of 9,838,553. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company has a market cap of $59.40 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 0.41 and a beta of 0.54. The business's fifty day moving average price is $48.12 and its 200 day moving average price is $45.12. Newmont Co. has a twelve month low of $36.86 and a twelve month high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Equities analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NEM shares. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 target price on the stock. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Royal Bank of Canada lifted their price target on Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research report on Friday, April 4th. BMO Capital Markets restated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Finally, Argus set a $63.00 price objective on Newmont in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.63.

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.