UniSuper Management Pty Ltd Grows Position in Newmont Corporation $NEM

UniSuper Management Pty Ltd raised its stake in shares of Newmont Corporation (NYSE:NEM) by 402.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 438,081 shares of the basic materials company’s stock after purchasing an additional 350,942 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Newmont were worth $36,935,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NEM. Drive Wealth Management LLC increased its holdings in shares of Newmont by 22.5% during the 3rd quarter. Drive Wealth Management LLC now owns 11,959 shares of the basic materials company’s stock worth $1,008,000 after buying an additional 2,199 shares during the last quarter. Gibbs Wealth Management grew its position in Newmont by 5.5% during the third quarter. Gibbs Wealth Management now owns 9,432 shares of the basic materials company’s stock valued at $795,000 after acquiring an additional 490 shares during the period. Westfuller Advisors LLC purchased a new stake in Newmont during the third quarter valued at about $186,000. Lockheed Martin Investment Management Co. acquired a new stake in Newmont during the third quarter worth about $2,378,000. Finally, iA Global Asset Management Inc. raised its holdings in shares of Newmont by 6.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 86,344 shares of the basic materials company’s stock worth $7,280,000 after purchasing an additional 5,019 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of a number of research reports. BNP Paribas Exane cut Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a report on Friday, December 5th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. The Goldman Sachs Group increased their price objective 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. Royal Bank Of Canada raised their target price on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Six investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $99.49.

Newmont Trading Up 2.2%

NEM opened at $124.34 on Friday. The firm’s 50 day moving average is $100.57 and its 200-day moving average is $84.59. Newmont Corporation has a 52-week low of $40.85 and a 52-week high of $124.64. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $135.69 billion, a P/E ratio of 19.31, a P/E/G ratio of 0.92 and a beta of 0.41.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the business earned $0.81 EPS. The business’s revenue was up 20.0% on a year-over-year basis. Analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, 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 legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is currently owned by corporate insiders.

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.