California Public Employees Retirement System Has $54.39 Million Holdings in Newmont Mining Corp (NEM)

California Public Employees Retirement System reduced its position in shares of Newmont Mining Corp (NYSE:NEM) by 7.0% during the 1st quarter, Holdings Channel reports. The firm owned 1,392,195 shares of the basic materials company’s stock after selling 104,272 shares during the quarter. California Public Employees Retirement System’s holdings in Newmont Mining were worth $54,393,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Premia Global Advisors LLC acquired a new stake in shares of Newmont Mining during the 4th quarter worth about $139,000. Signaturefd LLC acquired a new stake in shares of Newmont Mining during the 1st quarter worth about $152,000. Exane Derivatives acquired a new stake in shares of Newmont Mining during the 4th quarter worth about $208,000. Stephens Inc. AR acquired a new stake in shares of Newmont Mining during the 1st quarter worth about $219,000. Finally, Brown Advisory Inc. acquired a new stake in shares of Newmont Mining during the 4th quarter worth about $228,000. 82.44% of the stock is currently owned by institutional investors.

Several equities research analysts have issued reports on NEM shares. Zacks Investment Research raised shares of Newmont Mining from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Friday, February 9th. Bank of America raised their price target on shares of Newmont Mining from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. B. Riley raised their price target on shares of Newmont Mining from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. Citigroup raised their price target on shares of Newmont Mining from $37.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, March 1st. Finally, ValuEngine raised shares of Newmont Mining from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $42.93.

In related news, insider Gary J. Goldberg sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $39.31, for a total value of $157,240.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William N. Macgowan sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $38.89, for a total transaction of $194,450.00. The disclosure for this sale can be found here. Insiders sold 13,250 shares of company stock worth $518,980 in the last 90 days. 0.36% of the stock is currently owned by insiders.

NYSE NEM opened at $38.93 on Friday. Newmont Mining Corp has a one year low of $31.42 and a one year high of $42.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.62 and a current ratio of 4.18. The company has a market capitalization of $20.77 billion, a P/E ratio of 26.66 and a beta of 0.29.

Newmont Mining (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 26th. The basic materials company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Newmont Mining had a net margin of 0.64% and a return on equity of 7.01%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm posted $0.09 earnings per share. Newmont Mining’s revenue for the quarter was up 7.5% compared to the same quarter last year. equities research analysts predict that Newmont Mining Corp will post 1.5 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 21st. Investors of record on Thursday, June 7th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, June 6th. This represents a $0.56 annualized dividend and a yield of 1.44%. Newmont Mining’s payout ratio is 38.36%.

About Newmont Mining

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Mining Corp (NYSE:NEM).

Institutional Ownership by Quarter for Newmont Mining (NYSE:NEM)

Receive News & Ratings for Newmont Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Mining and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply