Arizona State Retirement System Boosts Holdings in Newmont Corporation $NEM

Arizona State Retirement System increased its stake in Newmont Corporation (NYSE:NEM) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 341,037 shares of the basic materials company’s stock after purchasing an additional 11,427 shares during the quarter. Arizona State Retirement System’s holdings in Newmont were worth $28,753,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NEM. Brighton Jones LLC lifted its holdings in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP lifted its stake in Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after purchasing an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Newmont during the second quarter valued at approximately $240,000. GC Wealth Management RIA LLC bought a new position in shares of Newmont during the second quarter valued at approximately $381,000. Finally, HB Wealth Management LLC raised its holdings in shares of Newmont by 39.9% in the second quarter. HB Wealth Management LLC now owns 27,719 shares of the basic materials company’s stock worth $1,615,000 after buying an additional 7,904 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Scotiabank raised their price objective on Newmont from $114.00 to $152.00 and gave the stock an “outperform” rating in a research report on Monday. UBS Group upped their target price on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Finally, Citigroup restated a “buy” rating on shares of Newmont in a research note on Monday, January 12th. Six investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $105.88.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction 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 firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 9,160 shares of company stock worth $767,206. 0.05% of the stock is currently owned by company insiders.

Newmont Stock Down 3.8%

NYSE NEM opened at $127.00 on Friday. Newmont Corporation has a one year low of $41.23 and a one year high of $134.88. The company has a market cap of $138.59 billion, a P/E ratio of 19.72, a P/E/G ratio of 1.01 and a beta of 0.41. 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 business has a fifty day moving average price of $103.95 and a 200 day moving average price of $86.50.

Newmont 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.