National Pension Service Has $367.11 Million Holdings in Newmont Corporation $NEM

National Pension Service lifted its stake in shares of Newmont Corporation (NYSE:NEM) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,354,264 shares of the basic materials company’s stock after purchasing an additional 114,949 shares during the period. National Pension Service owned approximately 0.40% of Newmont worth $367,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NEM. Norges Bank acquired a new position in shares of Newmont during the second quarter valued at $919,170,000. Invesco Ltd. lifted its position in Newmont by 45.0% during the 2nd 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 period. Boston Partners boosted its stake in shares of Newmont by 4,090.7% in the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock valued at $272,558,000 after purchasing an additional 4,532,263 shares during the last quarter. LSV Asset Management acquired a new stake in shares of Newmont during the 2nd quarter worth approximately $187,206,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Newmont by 172.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after buying an additional 2,723,044 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was 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 owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on 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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,160 shares of company stock worth $767,206 in the last 90 days. Company insiders own 0.05% of the company’s stock.

Newmont Price Performance

NEM stock opened at $112.30 on Friday. The stock has a 50-day moving average price of $104.52 and a two-hundred day moving average price of $86.86. Newmont Corporation has a 1 year low of $41.23 and a 1 year high of $134.88. The stock has a market cap of $122.55 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 0.97 and a beta of 0.41. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank Of Canada lifted their target price on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Raymond James Financial lifted their price objective on Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Scotiabank raised their target price on Newmont from $114.00 to $152.00 and gave the stock an “outperform” rating in a report on Monday. DZ Bank raised Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Finally, Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Six research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Buy” and a consensus target price of $107.83.

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.