Nisa Investment Advisors LLC Has $11.11 Million Holdings in Newmont Corporation $NEM

Nisa Investment Advisors LLC raised its position in Newmont Corporation (NYSE:NEM) by 15.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 131,716 shares of the basic materials company’s stock after purchasing an additional 17,151 shares during the period. Nisa Investment Advisors LLC’s holdings in Newmont were worth $11,105,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares in the last quarter. Woodline Partners LP grew its stake in shares of Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after acquiring an additional 27,813 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Newmont in the first quarter valued at approximately $244,000. Intech Investment Management LLC raised its holdings in shares of Newmont by 7.6% in the first quarter. Intech Investment Management LLC now owns 49,989 shares of the basic materials company’s stock valued at $2,413,000 after purchasing an additional 3,512 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Newmont by 177.3% in the first quarter. Acadian Asset Management LLC now owns 55,742 shares of the basic materials company’s stock worth $2,690,000 after purchasing an additional 35,643 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NEM shares. TD Securities raised their target price on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Argus raised their price objective on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. CIBC set a $112.00 target price on Newmont and gave the company an “outperformer” rating in a research report on Friday, October 10th. Jefferies Financial Group reiterated a “buy” rating and set a $120.00 target price on shares of Newmont in a report on Sunday, December 7th. Finally, Citigroup raised their price target on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $97.08.

Newmont Trading Up 2.0%

Shares of NYSE:NEM opened at $108.99 on Friday. Newmont Corporation has a 52-week low of $38.53 and a 52-week high of $109.30. 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 company has a market capitalization of $118.94 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 0.80 and a beta of 0.41. The company has a 50-day simple moving average of $94.34 and a 200 day simple moving average of $80.73.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. Sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Insiders Place Their Bets

In related news, 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 sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 9,160 shares of company stock valued at $767,206. Company insiders own 0.05% of the company’s stock.

About Newmont

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.