Employees Retirement System of Texas Boosts Stake in Newmont Corporation $NEM

Employees Retirement System of Texas lifted its holdings in Newmont Corporation (NYSE:NEM) by 22.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,380,471 shares of the basic materials company’s stock after buying an additional 254,953 shares during the period. Newmont makes up approximately 1.1% of Employees Retirement System of Texas’ portfolio, making the stock its 17th biggest holding. Employees Retirement System of Texas’ holdings in Newmont were worth $137,840,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GoalVest Advisory LLC purchased a new position in Newmont in the fourth quarter worth $25,000. Physician Wealth Advisors Inc. raised its stake in shares of Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 236 shares during the period. JPL Wealth Management LLC purchased a new position in shares of Newmont in the 3rd quarter worth about $27,000. Cornerstone Planning Group LLC boosted its holdings in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. Finally, Lodestone Wealth Management LLC bought a new position in Newmont during the fourth quarter valued at about $28,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

NYSE NEM opened at $111.49 on Wednesday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company has a market cap of $119.02 billion, a PE ratio of 14.46 and a beta of 0.43. Newmont Corporation has a 52 week low of $51.80 and a 52 week high of $134.88. The firm’s 50-day simple moving average is $110.94 and its two-hundred day simple moving average is $108.60.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the company earned $1.25 earnings per share. The company’s revenue was up 45.8% on a year-over-year basis. Research analysts predict that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, May 27th. Newmont’s payout ratio is currently 13.49%.

Analyst Ratings Changes

Several analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. UBS Group reduced their target price on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, March 27th. BNP Paribas Exane lifted their price target on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Royal Bank Of Canada upped their price objective on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Finally, BMO Capital Markets increased their price objective on Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $142.05.

Insider Buying and Selling at Newmont

In other news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. The trade was a 9.02% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $330,330.00. Following the sale, the executive vice president owned 49,315 shares in the company, valued at approximately $5,430,074.65. The trade was a 5.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 43,068 shares of company stock worth $4,769,475. 0.06% of the stock is owned by insiders.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.