Newmont Corporation $NEM Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in Newmont Corporation (NYSE:NEM) by 25.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 526,220 shares of the basic materials company’s stock after acquiring an additional 105,334 shares during the quarter. Teacher Retirement System of Texas’ holdings in Newmont were worth $30,658,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC lifted its holdings in Newmont by 59.6% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after acquiring an additional 5,848 shares during the period. Generate Investment Management Ltd lifted its holdings in Newmont by 25.9% in the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after acquiring an additional 77,865 shares during the period. Bessemer Group Inc. lifted its holdings in Newmont by 13.2% in the first quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock valued at $569,000 after acquiring an additional 1,379 shares during the period. Cypress Capital Group lifted its holdings in Newmont by 6.5% in the second quarter. Cypress Capital Group now owns 48,549 shares of the basic materials company’s stock valued at $2,828,000 after acquiring an additional 2,959 shares during the period. Finally, Spire Wealth Management lifted its holdings in Newmont by 125.0% in the first quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock valued at $114,000 after acquiring an additional 1,309 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 6.0%

Shares of NEM stock opened at $78.38 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The company has a market cap of $86.09 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.56 and a beta of 0.34. The stock has a 50 day simple moving average of $81.35 and a 200-day simple moving average of $65.88. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 26th. Newmont’s payout ratio is presently 15.53%.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director directly owned 36,869 shares in the company, valued at approximately $3,133,496.31. The trade was a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares of the company’s stock, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NEM. Macquarie downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. The Goldman Sachs Group set a $104.30 target price on Newmont and gave the stock a “buy” rating in a research note on Sunday, October 12th. Weiss Ratings raised Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday. BNP Paribas Exane upped their target price on Newmont from $66.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Finally, Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Five analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $86.92.

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.