Teacher Retirement System of Texas grew its position in shares of Newmont Mining Corp (NYSE:NEM) by 59.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 302,002 shares of the basic materials company’s stock after acquiring an additional 113,179 shares during the quarter. Teacher Retirement System of Texas’ holdings in Newmont Mining were worth $11,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC purchased a new position in shares of Newmont Mining during the first quarter valued at about $115,000. Private Capital Group LLC grew its position in shares of Newmont Mining by 177.0% during the first quarter. Private Capital Group LLC now owns 3,028 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 1,935 shares in the last quarter. Summit Trail Advisors LLC grew its position in shares of Newmont Mining by 4,127.4% during the first quarter. Summit Trail Advisors LLC now owns 127,624 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 124,605 shares in the last quarter. Signaturefd LLC purchased a new position in shares of Newmont Mining during the first quarter valued at about $152,000. Finally, Stephens Inc. AR purchased a new position in shares of Newmont Mining during the first quarter valued at about $219,000. 82.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:NEM opened at $32.06 on Friday. The company has a quick ratio of 3.95, a current ratio of 4.60 and a debt-to-equity ratio of 0.35. Newmont Mining Corp has a 12 month low of $31.45 and a 12 month high of $42.04. The stock has a market capitalization of $18.99 billion, a P/E ratio of 21.96 and a beta of 0.21.

Newmont Mining (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 26th. The basic materials company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.02. Newmont Mining had a net margin of 2.23% and a return on equity of 6.17%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. sell-side analysts forecast that Newmont Mining Corp will post 1.29 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, September 13th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, September 12th. Newmont Mining’s payout ratio is 38.36%.

In related news, CFO Nancy Buese sold 2,000 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $36.45, for a total value of $72,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary J. Goldberg sold 4,000 shares of the stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $38.88, for a total transaction of $155,520.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,750 shares of company stock valued at $1,082,190. 0.36% of the stock is owned by insiders.

A number of research analysts have recently weighed in on the company. ValuEngine lowered Newmont Mining from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Canaccord Genuity set a $40.00 price objective on Newmont Mining and gave the company a “hold” rating in a research report on Tuesday, July 24th. Morgan Stanley upgraded Newmont Mining from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, June 12th. Finally, TheStreet upgraded Newmont Mining from a “c+” rating to a “b” rating in a research report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Newmont Mining currently has a consensus rating of “Hold” and an average price target of $43.18.

Newmont Mining Profile

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.

Featured Article: How to Invest in Marijuana Stocks

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.