Nisa Investment Advisors LLC Grows Stock Position in Newmont Co. (NYSE:NEM)

Nisa Investment Advisors LLC increased its holdings in Newmont Co. (NYSE:NEM) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,987 shares of the basic materials company’s stock after buying an additional 520 shares during the period. Nisa Investment Advisors LLC’s holdings in Newmont were worth $4,466,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NEM. Sei Investments Co. boosted its position in shares of Newmont by 26.8% in the 2nd quarter. Sei Investments Co. now owns 258,572 shares of the basic materials company’s stock worth $10,826,000 after buying an additional 54,713 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Newmont by 18.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 80,838 shares of the basic materials company’s stock valued at $3,385,000 after purchasing an additional 12,597 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Newmont by 73.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 44,338 shares of the basic materials company’s stock valued at $1,856,000 after purchasing an additional 18,823 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Newmont in the 2nd quarter valued at about $91,000. Finally, MBB Public Markets I LLC purchased a new position in Newmont in the 2nd quarter valued at about $2,819,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. Raymond James reduced their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Scotiabank dropped their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $53.44.

Insiders Place Their Bets

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was purchased at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 14,077 shares of company stock worth $563,080 in the last quarter. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Performance

NYSE:NEM opened at $42.05 on Friday. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $47.87 billion, a price-to-earnings ratio of -27.66, a PEG ratio of 0.33 and a beta of 0.50. The firm’s fifty day simple moving average is $40.35 and its 200 day simple moving average is $46.78.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. As a group, equities research analysts expect that Newmont Co. will post 3.07 earnings per share for the current fiscal year.

Newmont Profile

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.