Nisa Investment Advisors LLC Acquires New Holdings in Newmont Corporation $NEM

Nisa Investment Advisors LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 153,969 shares of the basic materials company’s stock, valued at approximately $17,759,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new position in shares of Newmont during the 1st quarter valued at approximately $25,000. Cedar Mountain Advisors LLC purchased a new stake in Newmont during the 1st quarter valued at $25,000. Clearstead Trust LLC bought a new stake in Newmont in the second quarter worth $25,000. Kilter Group LLC bought a new stake in Newmont in the second quarter worth $26,000. Finally, GoalVest Advisory LLC bought a new stake in Newmont in the third quarter worth $28,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEM has been the subject of several recent analyst reports. BNP Paribas Exane dropped their price objective on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Sanford C. Bernstein reduced their target price on shares of Newmont from $147.00 to $144.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. Weiss Ratings raised shares of Newmont from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. National Bank Financial lowered their target price on shares of Newmont from $140.00 to $135.00 and set a “sector perform” rating for the company in a report on Tuesday. Finally, Royal Bank Of Canada lifted their price target on shares of Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $133.92.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $445,692.42. Following the completion of the transaction, the chief executive officer owned 127,471 shares in the company, valued at $14,634,945.51. The trade was a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the transaction, the executive vice president directly owned 34,315 shares in the company, valued at $3,939,705.15. This trade represents a 8.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 35,973 shares of company stock valued at $3,927,169. Insiders own 0.06% of the company’s stock.

Newmont Stock Up 0.2%

Shares of NYSE:NEM opened at $117.09 on Thursday. The firm has a market capitalization of $123.37 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 2.16 and a beta of 0.51. The business has a 50 day simple moving average of $122.06 and a two-hundred day simple moving average of $111.00. Newmont Corporation has a 1 year low of $76.05 and a 1 year high of $135.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same period in the prior year, the business posted $1.43 earnings per share. On average, equities analysts predict that Newmont Corporation will post 9.04 EPS for the current year.

Newmont Profile

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.