Newmont Co. (NYSE:NEM) Position Lifted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in shares of Newmont Co. (NYSE:NEM) by 48.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 657,199 shares of the basic materials company’s stock after purchasing an additional 213,046 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Newmont were worth $27,201,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NEM. Vanguard Group Inc. raised its holdings in shares of Newmont by 17.6% during the third quarter. Vanguard Group Inc. now owns 82,578,928 shares of the basic materials company’s stock worth $3,051,291,000 after purchasing an additional 12,360,775 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Newmont by 61.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,323,572 shares of the basic materials company’s stock worth $196,706,000 after acquiring an additional 2,019,591 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Newmont by 36.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,272,175 shares of the basic materials company’s stock worth $135,435,000 after acquiring an additional 868,804 shares during the period. California Public Employees Retirement System increased its holdings in shares of Newmont by 14.3% in the 4th quarter. California Public Employees Retirement System now owns 5,362,838 shares of the basic materials company’s stock worth $221,968,000 after acquiring an additional 671,110 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of Newmont by 3,044.9% in the 4th quarter. International Assets Investment Management LLC now owns 612,003 shares of the basic materials company’s stock worth $25,331,000 after acquiring an additional 592,543 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank dropped their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. BMO Capital Markets dropped their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. StockNews.com cut shares of Newmont from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Citigroup lowered their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.75.

Newmont Stock Down 1.6 %

Shares of NEM stock traded down $0.68 during trading on Friday, hitting $42.73. 14,214,859 shares of the company were exchanged, compared to its average volume of 13,801,380. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. The firm has a market capitalization of $49.26 billion, a price-to-earnings ratio of -18.02, a P/E/G ratio of 1.07 and a beta of 0.50. The business’s 50-day simple moving average is $35.35 and its 200 day simple moving average is $36.92. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $50.18.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The company’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, analysts forecast that Newmont Co. will post 1.99 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s payout ratio is presently -42.02%.

Newmont Company 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.