Texas Permanent School Fund Corp lessened its stake in shares of Newmont Co. (NYSE:NEM – Free Report) by 1.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 164,211 shares of the basic materials company’s stock after selling 2,433 shares during the period. Texas Permanent School Fund Corp’s holdings in Newmont were worth $6,068,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also bought and sold shares of NEM. Aptus Capital Advisors LLC bought a new stake in Newmont in the third quarter valued at approximately $226,000. Choreo LLC bought a new stake in Newmont in the third quarter valued at approximately $217,000. Huntington National Bank raised its stake in Newmont by 62.7% in the third quarter. Huntington National Bank now owns 6,589 shares of the basic materials company’s stock valued at $243,000 after buying an additional 2,540 shares during the period. Pathstone Family Office LLC increased its stake in shares of Newmont by 448.3% during the third quarter. Pathstone Family Office LLC now owns 44,191 shares of the basic materials company’s stock worth $1,634,000 after purchasing an additional 36,131 shares during the period. Finally, KCM Investment Advisors LLC increased its stake in shares of Newmont by 5.8% during the third quarter. KCM Investment Advisors LLC now owns 8,945 shares of the basic materials company’s stock worth $331,000 after purchasing an additional 489 shares during the period. Institutional investors own 79.53% of the company’s stock.
Insider Buying and Selling
In related news, COO Robert D. Atkinson sold 5,500 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $41.26, for a total value of $226,930.00. Following the completion of the transaction, the chief operating officer now directly owns 54,251 shares of the company’s stock, valued at $2,238,396.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.07% of the stock is owned by insiders.
Newmont Stock Performance
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. UBS Group lowered their target price on Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 13th. Royal Bank of Canada reduced their price target on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday. TD Securities downgraded Newmont from a “buy” rating to a “hold” rating and set a $46.00 price target on the stock. in a research report on Tuesday, January 9th. BMO Capital Markets reduced their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 17th. Finally, Raymond James reduced their price target on Newmont from $59.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.76.
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, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.
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