Teacher Retirement System of Texas Trims Holdings in Newmont Corporation $NEM

Teacher Retirement System of Texas decreased its holdings in shares of Newmont Corporation (NYSE:NEM) by 4.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 501,236 shares of the basic materials company’s stock after selling 24,984 shares during the period. Teacher Retirement System of Texas’ holdings in Newmont were worth $42,259,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Harbor Capital Advisors Inc. lifted its stake in Newmont by 53.5% in the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 139 shares during the period. Concord Wealth Partners raised its holdings in Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares in the last quarter. Evermay Wealth Management LLC raised its holdings in Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Newmont during the 3rd quarter valued at about $44,000. Finally, Capital A Wealth Management LLC increased its position in shares of Newmont by 1,648.3% during the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after buying an additional 478 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,160 shares of company stock valued at $767,206 in the last 90 days. Company insiders own 0.05% of the company’s stock.

Newmont Trading Up 2.2%

Shares of NYSE NEM opened at $124.34 on Friday. The firm’s 50 day moving average price is $100.57 and its 200-day moving average price is $84.59. Newmont Corporation has a 52-week low of $40.85 and a 52-week high of $124.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The company has a market cap of $135.69 billion, a PE ratio of 19.31, a P/E/G ratio of 0.92 and a beta of 0.41.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on NEM shares. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. TD Securities lifted their price target on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. DZ Bank raised Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Finally, Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $71.50 to $114.00 in a report on Thursday, October 23rd. Six analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $99.49.

Newmont Profile

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.