Newmont Corporation $NEM Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its holdings in shares of Newmont Corporation (NYSE:NEM) by 3.2% in the third quarter, HoldingsChannel.com reports. The fund owned 392,809 shares of the basic materials company’s stock after buying an additional 11,998 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Newmont were worth $33,118,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of NEM. PNC Financial Services Group Inc. increased its stake in shares of Newmont by 10.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 169,077 shares of the basic materials company’s stock worth $14,255,000 after purchasing an additional 16,012 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Newmont during the third quarter worth $165,000. Cherokee Insurance Co acquired a new position in shares of Newmont in the third quarter worth $211,000. Florida Financial Advisors LLC purchased a new stake in shares of Newmont in the third quarter valued at $1,389,000. Finally, Camden National Bank lifted its position in shares of Newmont by 14.4% in the third quarter. Camden National Bank now owns 4,177 shares of the basic materials company’s stock valued at $352,000 after acquiring an additional 527 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Gold rally is cited as the direct trigger for the rally in Newmont shares — bullion strength typically lifts Newmont’s revenue and margins. Why Newmont Corporation Stock Popped Today
• Positive Sentiment: Newmont has surged ~73% in six months on record gold prices and project progress, which supports investor sentiment and multiple expansion. Newmont Surges 73% in 6 Months: Buy, Sell or Hold the Stock?
• Positive Sentiment: Analysts expect earnings growth for the quarter, raising the probability of an earnings beat and giving upside risk into the report. Newmont Corporation (NEM) Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: Zacks style/momentum analyses highlight Newmont as a strong momentum stock, which can attract trend-following and quant flows. Here’s Why Newmont Corporation (NEM) is a Strong Momentum Stock
• Neutral Sentiment: Bank of America slightly trimmed its price target to $134 but kept a Buy rating — a modest model tweak that signals continued analyst support rather than a negative reassessment. Bank of America Slightly Lowers its Price Target on Newmont Corporation (NEM) to $134 While Maintaining a Buy Rating
• Neutral Sentiment: Zacks’ deeper look at Q4 metrics beyond revenue/EPS identifies items (production, AISC, by?product credits) that could drive post?earnings reaction — watch those line items. Exploring Analyst Estimates for Newmont (NEM) Q4 Earnings, Beyond Revenue and EPS
• Neutral Sentiment: Reminder: Newmont is projected to report quarterly results this week; the print and any guidance will likely be the next major catalyst. Newmont (NEM) Projected to Post Quarterly Earnings on Thursday
• Negative Sentiment: Separately, Newmont underperformed some peers on Thursday, highlighting that relative performance risk exists even amid a gold rally. Newmont Corp. stock underperforms Thursday when compared to competitors

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. National Bank Financial lifted their price target on shares of Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Macquarie Infrastructure boosted their price objective on shares of Newmont from $115.00 to $126.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Jefferies Financial Group raised their target price on shares of Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group boosted their price target on Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $131.94.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated 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 owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.05% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $125.91 on Monday. The company has a market cap of $137.40 billion, a P/E ratio of 19.55, a P/E/G ratio of 1.05 and a beta of 0.40. The firm’s 50 day moving average is $110.21 and its two-hundred day moving average is $91.25. Newmont Corporation has a fifty-two week low of $41.23 and a fifty-two week high of $134.88. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

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.