AustralianSuper Pty Ltd Raises Position in Newmont Co. (NYSE:NEM)

AustralianSuper Pty Ltd grew its position in Newmont Co. (NYSE:NEM) by 36.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 33,788 shares of the basic materials company’s stock after buying an additional 9,015 shares during the period. AustralianSuper Pty Ltd’s holdings in Newmont were worth $1,258,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. New York State Teachers Retirement System raised its holdings in Newmont by 2.1% in the fourth quarter. New York State Teachers Retirement System now owns 879,047 shares of the basic materials company’s stock worth $32,718,000 after buying an additional 18,035 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Newmont by 3.2% during the fourth quarter. V Square Quantitative Management LLC now owns 18,133 shares of the basic materials company’s stock valued at $675,000 after purchasing an additional 568 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Newmont by 7.4% during the fourth quarter. Vontobel Holding Ltd. now owns 381,480 shares of the basic materials company’s stock valued at $14,199,000 after purchasing an additional 26,447 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Newmont by 2.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 554,054 shares of the basic materials company’s stock valued at $20,965,000 after purchasing an additional 15,574 shares during the last quarter. Finally, Avestar Capital LLC raised its holdings in shares of Newmont by 6.5% during the fourth quarter. Avestar Capital LLC now owns 5,757 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 352 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NEM shares. The Goldman Sachs Group started coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Bernstein Bank boosted their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, Raymond James cut their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average price target of $53.37.

Newmont Stock Performance

NEM opened at $46.61 on Friday. The firm has a market cap of $53.06 billion, a P/E ratio of -30.66, a PEG ratio of 0.38 and a beta of 0.52. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The company has a 50 day simple moving average of $41.01 and a two-hundred day simple moving average of $46.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry M. Iv Conger bought 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 28,154 shares of company stock worth $1,166,843 over the last three months. 0.06% of the stock is currently owned by company insiders.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.