Bessemer Group Inc. Has $1.53 Million Holdings in Newmont Corporation $NEM

Bessemer Group Inc. grew its position in shares of Newmont Corporation (NYSE:NEM) by 40.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,144 shares of the basic materials company’s stock after buying an additional 5,210 shares during the quarter. Bessemer Group Inc.’s holdings in Newmont were worth $1,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Newmont in the second quarter valued at approximately $919,170,000. Invesco Ltd. raised its holdings in shares of Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after purchasing an additional 4,839,447 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Newmont by 6.3% in the 2nd quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock valued at $433,236,000 after purchasing an additional 438,748 shares during the last quarter. Boston Partners boosted its holdings in Newmont by 4,090.7% in the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after purchasing an additional 4,532,263 shares in the last quarter. Finally, National Pension Service increased its position in Newmont by 2.7% during the third quarter. National Pension Service now owns 4,354,264 shares of the basic materials company’s stock worth $367,108,000 after buying an additional 114,949 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $115.27 on Monday. The company has a market cap of $125.79 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 0.88 and a beta of 0.40. The business has a 50 day moving average price of $107.05 and a 200 day moving average price of $89.18. 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 Corporation has a twelve month low of $41.23 and a twelve month high of $134.88.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value 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 represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NEM. UBS Group reaffirmed a “buy” rating and issued a $160.00 price target on shares of Newmont in a research report on Friday, January 30th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $177.00 price objective on shares of Newmont in a research note on Wednesday. Macquarie Infrastructure upped their target price on Newmont from $115.00 to $126.00 and gave the stock an “outperform” rating in a research report on Friday. Raymond James Financial increased their price target on Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Finally, Argus boosted their price objective on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Newmont has a consensus rating of “Buy” and an average price target of $124.83.

About Newmont

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.