Illinois Municipal Retirement Fund Acquires 37,395 Shares of Newmont Corporation $NEM

Illinois Municipal Retirement Fund grew its stake in Newmont Corporation (NYSE:NEM) by 39.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 131,683 shares of the basic materials company’s stock after purchasing an additional 37,395 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Newmont were worth $11,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Physician Wealth Advisors Inc. boosted its position in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. Evermay Wealth Management LLC boosted its holdings in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares during the last quarter. Capital A Wealth Management LLC boosted its holdings in shares of Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after buying an additional 478 shares during the last quarter. Caldwell Trust Co bought a new position in shares of Newmont in the second quarter valued at $31,000. Finally, Country Trust Bank acquired a new position in Newmont during the second quarter worth $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.

Newmont Trading Down 5.2%

Shares of NEM stock opened at $118.09 on Friday. Newmont Corporation has a 12-month low of $41.23 and a 12-month high of $134.88. The company has a market capitalization of $128.87 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 1.04 and a beta of 0.40. The firm has a 50 day moving average price of $109.49 and a two-hundred day moving average price of $90.43. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Analysts Set New Price Targets

A number of analysts have commented on NEM shares. Stifel Nicolaus increased their price target on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday. National Bank Financial upped their target price on shares of Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Bank of America raised their target price on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Finally, Macquarie Infrastructure raised their price objective on Newmont from $115.00 to $126.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $130.49.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Bank of America slightly trimmed its price target but kept a Buy rating at $134, signaling continued analyst confidence in Newmont’s outlook. Bank of America Slightly Lowers its Price Target on Newmont Corporation (NEM) to $134 While Maintaining a Buy Rating
• Positive Sentiment: One or more analysts upgraded Newmont recently, which corresponded with a notable intraday rally on an earlier session — this upgrade momentum can buoy investor sentiment into earnings. Newmont (NYSE:NEM) Stock Price Up 4.8% Following Analyst Upgrade
• Positive Sentiment: Zacks highlights Newmont as a strong momentum stock and notes factors that could support an earnings beat, reinforcing a near-term positive technical and fundamental backdrop. Here’s Why Newmont Corporation (NEM) is a Strong Momentum Stock
• Positive Sentiment: Recent trading updates showed Newmont advancing while the broader market declined, indicating relative strength that could attract momentum-focused investors. Newmont Corporation (NEM) Advances While Market Declines: Some Information for Investors
• Neutral Sentiment: Zacks expects earnings growth and suggests Newmont has the setup for a potential earnings beat, but this is forward-looking and hinges on commodity prices and production results. Newmont Corporation (NEM) Earnings Expected to Grow: Should You Buy?
• Neutral Sentiment: Calendar note: Newmont is projected to report quarterly results this week — investors should watch guidance, production metrics and AISC (all-in sustaining costs). Newmont (NEM) Projected to Post Quarterly Earnings on Thursday
• Negative Sentiment: A MarketWatch roundup flagged that Newmont underperformed its competitors on Thursday, which may reflect investor rotation within the sector or concerns about near-term catalysts. Newmont Corp. stock underperforms Thursday when compared to competitors

Newmont 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.