Teacher Retirement System of Texas Has $63.90 Million Stock Position in Newmont Corporation $NEM

Teacher Retirement System of Texas lifted its position in Newmont Corporation (NYSE:NEM) by 27.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 639,966 shares of the basic materials company’s stock after buying an additional 138,730 shares during the quarter. Teacher Retirement System of Texas owned about 0.06% of Newmont worth $63,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NEM. Robeco Institutional Asset Management B.V. lifted its stake in shares of Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after buying an additional 2,723,044 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Newmont by 398.3% in the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after buying an additional 2,294,396 shares during the last quarter. Boston Partners increased its position in Newmont by 49.3% during the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after acquiring an additional 2,288,653 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Newmont by 106.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock worth $349,288,000 after acquiring an additional 2,146,905 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Newmont by 142.0% during the second quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after acquiring an additional 1,914,286 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Up 2.4%

Shares of Newmont stock opened at $111.87 on Thursday. The firm has a market capitalization of $120.82 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 0.84 and a beta of 0.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The company’s fifty day moving average price is $114.89 and its two-hundred day moving average price is $104.40. Newmont Corporation has a 52-week low of $48.27 and a 52-week high of $134.88.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. On average, analysts expect that Newmont Corporation will post 8.83 EPS for the current year.

Newmont Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.25. Newmont’s payout ratio is currently 16.28%.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total value of $339,270.00. Following the sale, the executive vice president owned 52,315 shares of the company’s stock, valued at approximately $5,916,303.35. This represents a 5.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David James Fry sold 18,394 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 24,394 shares of company stock worth $2,713,281. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NEM has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. TD dropped their target price on shares of Newmont from $118.00 to $116.00 and set a “hold” rating on the stock in a research report on Tuesday. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. The Goldman Sachs Group boosted their target price on shares of Newmont from $122.30 to $123.20 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Finally, Raymond James Financial boosted their target price on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $138.26.

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.