Newmont Co. (NYSE:NEM) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in shares of Newmont Co. (NYSE:NEM) by 29.3% in the fourth quarter, Holdings Channel reports. The firm owned 1,511,074 shares of the basic materials company’s stock after acquiring an additional 342,640 shares during the period. New York State Common Retirement Fund’s holdings in Newmont were worth $62,543,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its stake in shares of Newmont by 27.5% in the fourth quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock valued at $7,041,000 after buying an additional 36,645 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Newmont by 22.3% in the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock valued at $5,382,000 after acquiring an additional 26,599 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Newmont by 13.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock valued at $32,926,000 after purchasing an additional 94,692 shares during the period. KLCM Advisors Inc. lifted its position in shares of Newmont by 4.3% during the fourth quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock worth $17,708,000 after purchasing an additional 17,791 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Newmont by 70.5% in the fourth quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock valued at $3,535,000 after purchasing an additional 35,303 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NEM shares. Royal Bank of Canada dropped their target price 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. StockNews.com cut Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Jefferies Financial Group started coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price target on the stock. Scotiabank decreased their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Finally, Citigroup dropped 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Newmont presently has a consensus rating of “Hold” and a consensus price target of $50.89.

Newmont Stock Performance

Shares of NYSE NEM opened at $37.71 on Wednesday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $50.18. The company has a market cap of $43.47 billion, a PE ratio of -15.84, a P/E/G ratio of 1.01 and a beta of 0.50. The stock has a 50 day simple moving average of $35.01 and a 200-day simple moving average of $36.86. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Newmont’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, equities research analysts forecast that Newmont Co. will post 1.98 EPS for the current year.

Newmont Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.65%. Newmont’s payout ratio is presently -42.02%.

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.