Nisa Investment Advisors LLC Makes New $17.76 Million Investment in Newmont Corporation $NEM

Key Points

• Nisa Investment Advisors acquired 153,969 Newmont shares worth approximately $17.76 million in the third quarter. Institutional investors collectively own 68.85% of the company.
• Newmont insiders sold 35,973 shares worth about $3.93 million over the past 90 days, while corporate insiders own just 0.06% of the stock.
• Newmont reported quarterly EPS of $2.10, exceeding analyst estimates of $2.05, and analysts maintain a consensus “Moderate Buy” rating with an average price target of $133.92.

Nisa Investment Advisors LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 153,969 shares of the basic materials company's stock, valued at approximately $17,759,000.

A number of other large investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new stake in Newmont during the first quarter valued at about $25,000. Cedar Mountain Advisors LLC purchased a new position in shares of Newmont in the first quarter valued at about $25,000. Clearstead Trust LLC purchased a new position in shares of Newmont in the second quarter valued at about $25,000. Kilter Group LLC bought a new position in shares of Newmont in the second quarter worth about $26,000. Finally, GoalVest Advisory LLC bought a new position in shares of Newmont in the third quarter worth about $28,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Activity at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the sale, the chief financial officer owned 29,324 shares of the company's stock, valued at $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $344,430.00. Following the transaction, the executive vice president owned 34,315 shares of the company's stock, valued at $3,939,705.15. This trade represents a 8.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Performance

NYSE:NEM opened at $117.09 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. Newmont Corporation has a 1 year low of $76.05 and a 1 year high of $135.29. The stock's 50 day simple moving average is $122.06 and its two-hundred day simple moving average is $111.00. The company has a market cap of $123.37 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 2.16 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion for the quarter, compared to analysts' expectations of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%. During the same period in the prior year, the firm earned $1.43 EPS. As a group, equities analysts anticipate that Newmont Corporation will post 9.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NEM. Jefferies Financial Group cut their target price on Newmont from $158.00 to $146.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Weiss Ratings raised Newmont from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 16th. Zacks Research cut Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Canadian Imperial Bank of Commerce set a $154.00 price target on Newmont in a research note on Friday, October 16th. Finally, Wall Street Zen downgraded Newmont from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $133.92.

Newmont Company Profile

Newmont Corporation NYSE: NEM is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world's largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.

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