National Pension Service Has $367.11 Million Stock Position in Newmont Corporation $NEM

National Pension Service lifted its stake in shares of Newmont Corporation (NYSE:NEM) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,354,264 shares of the basic materials company’s stock after purchasing an additional 114,949 shares during the period. National Pension Service’s holdings in Newmont were worth $367,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Newmont in the second quarter valued at $919,170,000. Invesco Ltd. lifted its stake in Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after purchasing an additional 4,839,447 shares during the last quarter. Legal & General Group Plc grew its holdings in Newmont by 6.3% during the second quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock worth $433,236,000 after purchasing an additional 438,748 shares during the period. Boston Partners increased its position in Newmont by 4,090.7% during the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after buying an additional 4,532,263 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Newmont by 34.7% in the third quarter. Nordea Investment Management AB now owns 4,336,873 shares of the basic materials company’s stock valued at $366,553,000 after buying an additional 1,116,811 shares during the period. 68.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NEM. DZ Bank raised Newmont to a “strong-buy” rating in a report on Monday, January 19th. Raymond James Financial upped their price objective on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Canaccord Genuity Group raised their target price on shares of Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. The Goldman Sachs Group upped their price target on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, TD Cowen raised their price objective on shares of Newmont from $89.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. Six analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Buy” and a consensus target price of $107.83.

Newmont Price Performance

NYSE:NEM opened at $112.30 on Friday. Newmont Corporation has a 52 week low of $41.23 and a 52 week high of $134.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The firm’s 50-day simple moving average is $104.52 and its 200 day simple moving average is $86.86. The firm has a market cap of $122.55 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 0.97 and a beta of 0.41.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is owned by company insiders.

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.