Public Sector Pension Investment Board Buys 12,291 Shares of Newmont Corporation $NEM

Public Sector Pension Investment Board boosted its position in shares of Newmont Corporation (NYSE:NEM) by 14.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,000 shares of the basic materials company’s stock after acquiring an additional 12,291 shares during the period. Public Sector Pension Investment Board’s holdings in Newmont were worth $8,009,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atria Investments Inc increased its holdings in shares of Newmont by 460.7% in the 3rd quarter. Atria Investments Inc now owns 51,359 shares of the basic materials company’s stock worth $4,330,000 after buying an additional 42,200 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Newmont by 39.7% during the third quarter. Illinois Municipal Retirement Fund now owns 131,683 shares of the basic materials company’s stock worth $11,102,000 after acquiring an additional 37,395 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Newmont by 9.0% in the 3rd quarter. Wedbush Securities Inc. now owns 16,157 shares of the basic materials company’s stock worth $1,362,000 after acquiring an additional 1,339 shares during the last quarter. Varma Mutual Pension Insurance Co grew its holdings in shares of Newmont by 8.6% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 269,756 shares of the basic materials company’s stock valued at $22,743,000 after purchasing an additional 21,300 shares during the last quarter. Finally, Caisse Des Depots ET Consignations bought a new stake in Newmont in the third quarter worth $1,568,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity

In other Newmont 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 approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by insiders.

Newmont Price Performance

Shares of NEM opened at $122.17 on Wednesday. The firm’s 50-day simple moving average is $111.51 and its two-hundred day simple moving average is $92.12. Newmont Corporation has a fifty-two week low of $41.23 and a fifty-two week high of $134.88. The stock has a market cap of $133.32 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.05 and a beta of 0.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NEM. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Citigroup reiterated a “buy” rating on shares of Newmont in a report on Monday, January 12th. Macquarie Infrastructure raised their price target on shares of Newmont from $115.00 to $126.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Scotiabank upped their price objective on shares of Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, BNP Paribas Exane raised their target price on Newmont from $97.00 to $123.00 and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.94.

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.