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

Teacher Retirement System of Texas increased its stake in shares of Newmont Corporation (NYSE:NEM) by 27.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 639,966 shares of the basic materials company’s stock after buying an additional 138,730 shares during the period. Teacher Retirement System of Texas’ holdings in Newmont were worth $63,901,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NEM. Robeco Institutional Asset Management B.V. lifted its position in Newmont by 172.2% during the 3rd 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 in the last quarter. Assetmark Inc. lifted its position in Newmont by 398.3% during the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after purchasing an additional 2,294,396 shares during the period. Boston Partners lifted its position in Newmont by 49.3% during the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after purchasing an additional 2,288,653 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Newmont by 106.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock valued at $349,288,000 after purchasing an additional 2,146,905 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Newmont by 142.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock valued at $189,963,000 after purchasing an additional 1,914,286 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NEM shares. Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Stifel Nicolaus upped their target price on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. The Goldman Sachs Group upped their target price on shares of Newmont from $122.30 to $123.20 and gave the company a “buy” rating in a research report on Thursday, April 9th. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and upped their target price for the company from $121.00 to $157.00 in a research report on Friday, February 27th. Finally, Citigroup upped their target price on shares of Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.26.

Insider Buying and Selling

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

Newmont Price Performance

NYSE NEM opened at $111.87 on Thursday. The business has a 50 day simple moving average of $114.89 and a 200 day simple moving average of $104.40. Newmont Corporation has a 52-week low of $48.27 and a 52-week high of $134.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The stock has a market cap of $120.82 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 0.84 and a beta of 0.46.

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

Newmont Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a 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 dividend payout ratio (DPR) is currently 16.28%.

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.