Newmont Corporation $NEM Shares Bought by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co increased its position in Newmont Corporation (NYSE:NEM) by 8.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 269,756 shares of the basic materials company’s stock after acquiring an additional 21,300 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Newmont were worth $22,743,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Newmont during the second quarter valued at approximately $919,170,000. Invesco Ltd. grew its holdings in Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after buying an additional 4,839,447 shares in the last quarter. Boston Partners increased its position in Newmont by 4,090.7% in the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock valued at $272,558,000 after acquiring an additional 4,532,263 shares during the period. LSV Asset Management bought a new stake in Newmont during the 2nd quarter valued at $187,206,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in Newmont by 172.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after acquiring an additional 2,723,044 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NYSE:NEM opened at $124.60 on Thursday. The company has a market capitalization of $135.97 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.07 and a beta of 0.40. 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 stock has a fifty day moving average of $108.94 and a 200-day moving average of $90.23. Newmont Corporation has a one year low of $41.23 and a one year high of $134.88.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction 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 $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.05% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NEM shares. BNP Paribas Exane cut Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target for the company. in a research note on Friday, December 5th. Scotiabank increased their target price on shares of Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. BMO Capital Markets upped their price target on shares of Newmont from $114.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $177.00 price objective on shares of Newmont in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $130.49.

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.