New Mexico Educational Retirement Board Makes New $1.13 Million Investment in Newmont Corporation $NEM

New Mexico Educational Retirement Board purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the second quarter, HoldingsChannel reports. The fund purchased 54,280 shares of the basic materials company’s stock, valued at approximately $1,134,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NEM. Parkside Financial Bank & Trust increased its position in shares of Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after buying an additional 96 shares in the last quarter. Coston McIsaac & Partners lifted its holdings in Newmont by 28.6% during the fourth quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 100 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in Newmont by 6.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company’s stock valued at $164,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. grew its stake in Newmont by 0.6% in the first quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after acquiring an additional 100 shares during the period. Finally, Townsquare Capital LLC increased its holdings in shares of Newmont by 4.2% in the fourth quarter. Townsquare Capital LLC now owns 2,523 shares of the basic materials company’s stock worth $252,000 after acquiring an additional 102 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

NEM opened at $125.87 on Tuesday. The company has a market capitalization of $132.63 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 1.32 and a beta of 0.47. The business’s 50-day moving average price is $104.71 and its two-hundred day moving average price is $109.53. Newmont Corporation has a 1 year low of $72.78 and a 1 year high of $135.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period in the prior year, the firm earned $1.43 earnings per share. Equities analysts expect that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be paid a $0.26 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 0.8%. Newmont’s payout ratio is presently 13.13%.

Insiders Place Their Bets

In other news, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,209 shares of company stock valued at $2,567,701 in the last quarter. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research analyst reports. TD raised their price target on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Barclays decreased their price objective on Newmont from $125.00 to $124.00 and set an “overweight” rating for the company in a research report on Tuesday, July 28th. Raymond James Financial reissued an “outperform” rating and set a $140.00 target price on shares of Newmont in a research note on Monday, August 24th. Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, TD Securities raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $132.73.

Newmont Company 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.