Newmont Corporation $NEM Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in Newmont Corporation (NYSE:NEM) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,306,504 shares of the basic materials company’s stock after buying an additional 45,412 shares during the period. Principal Financial Group Inc.’s holdings in Newmont were worth $110,151,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Newmont by 53.5% in the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares in the last quarter. Concord Wealth Partners boosted its holdings in 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 in the last quarter. Evermay Wealth Management LLC increased its position in Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares during the period. Salomon & Ludwin LLC acquired a new position in Newmont during the 3rd quarter worth approximately $44,000. Finally, Capital A Wealth Management LLC raised its stake in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after buying an additional 478 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 0.4%

Shares of NYSE NEM opened at $112.83 on Tuesday. The firm’s 50-day moving average is $105.05 and its two-hundred day moving average is $87.66. The company has a market capitalization of $123.12 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 0.86 and a beta of 0.40. Newmont Corporation has a 12-month low of $41.23 and a 12-month high of $134.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research note on Monday, January 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Bank of America upped their price target on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Finally, Citigroup reissued a “buy” rating on shares of Newmont in a report on Monday, January 12th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $112.38.

Insider Transactions 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 stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director owned 32,709 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. 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.