New York State Common Retirement Fund Has $118.74 Million Stock Position in Newmont Corporation $NEM

New York State Common Retirement Fund cut its stake in Newmont Corporation (NYSE:NEM) by 5.1% in the third quarter, HoldingsChannel reports. The fund owned 1,408,328 shares of the basic materials company’s stock after selling 75,313 shares during the period. New York State Common Retirement Fund’s holdings in Newmont were worth $118,736,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Concord Wealth Partners boosted its stake in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC lifted its stake in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares during the period. Capital A Wealth Management LLC lifted its stake in Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after buying an additional 478 shares during the period. Caldwell Trust Co bought a new position in Newmont during the second quarter worth about $31,000. Finally, Country Trust Bank acquired a new position in shares of Newmont during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NEM shares. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. TD Cowen boosted their price target on shares of Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. Jefferies Financial Group increased their target price on Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Six research 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $105.88.

Newmont Stock Performance

Shares of NYSE NEM opened at $132.01 on Thursday. 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 stock has a 50 day moving average price of $103.05 and a 200 day moving average price of $86.22. The stock has a market capitalization of $144.05 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 0.97 and a beta of 0.41. Newmont Corporation has a 52 week low of $40.99 and a 52 week high of $132.40.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,160 shares of company stock valued at $767,206 over the last three months. 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.