State of Wyoming Has $1.17 Million Stake in Newmont Corporation $NEM

State of Wyoming reduced its stake in Newmont Corporation (NYSE:NEM) by 25.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,915 shares of the basic materials company’s stock after selling 4,837 shares during the quarter. State of Wyoming’s holdings in Newmont were worth $1,173,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NEM. Norges Bank bought a new position in Newmont in the 2nd quarter worth $919,170,000. Invesco Ltd. grew its position in shares of Newmont by 45.0% in the second 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 increased its stake in shares of Newmont by 6.3% in 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 lifted its position in shares of Newmont by 4,090.7% during the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after purchasing an additional 4,532,263 shares during the last quarter. Finally, National Pension Service boosted its stake in Newmont by 2.7% during the 3rd quarter. National Pension Service now owns 4,354,264 shares of the basic materials company’s stock valued at $367,108,000 after purchasing an additional 114,949 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $112.30 on Monday. Newmont Corporation has a twelve month low of $41.23 and a twelve month high of $134.88. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock has a market cap of $122.55 billion, a P/E ratio of 17.44, a PEG ratio of 0.86 and a beta of 0.40. The company’s 50-day simple moving average is $104.52 and its 200 day simple moving average is $87.27.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on 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 directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. TD Cowen upped their price target on Newmont from $89.00 to $120.00 and gave the stock a “hold” rating in a report on Thursday, January 22nd. CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. TD Securities upped their target price on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Raymond James Financial raised their price target on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Finally, Argus boosted their price objective on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Six investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $112.38.

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.