Caisse Des Depots ET Consignations Makes New Investment in Newmont Corporation $NEM

Caisse Des Depots ET Consignations purchased a new stake in Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 18,602 shares of the basic materials company’s stock, valued at approximately $1,568,000.

A number of other institutional investors also recently modified their holdings of NEM. Norges Bank bought a new position in Newmont in the second quarter valued at about $919,170,000. Invesco Ltd. boosted its stake in shares of Newmont by 45.0% in 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 in the last quarter. Boston Partners grew its holdings in shares of Newmont by 4,090.7% during 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 position in Newmont in the 2nd quarter worth about $187,206,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Newmont by 172.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NEM. The Goldman Sachs Group boosted their price target on shares of Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research report on Monday, January 12th. Canaccord Genuity Group increased their price target on Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Macquarie Infrastructure increased their target price on shares of Newmont from $115.00 to $126.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. Finally, National Bank Financial upped their price objective on shares of Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.49.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 32,709 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Up 2.5%

NEM opened at $124.60 on Thursday. Newmont Corporation has a fifty-two week low of $41.23 and a fifty-two week 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. The company’s 50-day moving average is $108.94 and its 200 day moving average is $90.23. The firm has a market capitalization of $135.97 billion, a P/E ratio of 19.35, a PEG ratio of 1.07 and a beta of 0.40.

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.