Oregon Public Employees Retirement Fund Has $3.63 Million Stock Position in Newmont Co. (NYSE:NEM)

Oregon Public Employees Retirement Fund lowered its stake in Newmont Co. (NYSE:NEM) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,636 shares of the basic materials company’s stock after selling 572 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Newmont were worth $3,634,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI acquired a new position in shares of Newmont during the third quarter worth $98,011,000. Nordea Investment Management AB increased its stake in shares of Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after buying an additional 1,578,545 shares during the period. FMR LLC raised its holdings in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after purchasing an additional 1,226,697 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after buying an additional 865,213 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock valued at $1,851,606,000 after purchasing an additional 797,445 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 3.5 %

Newmont stock opened at $42.06 on Friday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm’s 50-day simple moving average is $41.92 and its 200 day simple moving average is $46.34. The stock has a market cap of $47.39 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Research analysts predict that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insiders Place Their Bets

In related news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,154 shares of company stock valued at $1,166,843. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. CLSA started coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. Bernstein Bank raised their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada increased their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Finally, TD Securities lowered their target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Newmont 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.