Knights of Columbus Asset Advisors LLC Boosts Stock Position in Newmont Corporation $NEM

Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Newmont Corporation (NYSE:NEM) by 286.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,499 shares of the basic materials company’s stock after purchasing an additional 44,846 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Newmont were worth $5,101,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in NEM. Brighton Jones LLC boosted its stake in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the last quarter. Woodline Partners LP lifted its stake in Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after purchasing an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Newmont during the second quarter valued at $240,000. GC Wealth Management RIA LLC bought a new stake in shares of Newmont in the second quarter valued at $381,000. Finally, HB Wealth Management LLC lifted its position in shares of Newmont by 39.9% during the 2nd quarter. HB Wealth Management LLC now owns 27,719 shares of the basic materials company’s stock valued at $1,615,000 after buying an additional 7,904 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $127.00 on Friday. The stock has a market cap of $138.59 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.01 and a beta of 0.41. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $103.95 and a 200 day simple moving average of $86.50. Newmont Corporation has a 52 week low of $41.23 and a 52 week high of $134.88.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the sale, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 9,160 shares of company stock worth $767,206. 0.05% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Argus upped their price objective on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Bank of America increased their target price on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. TD Cowen lifted their price target on Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a research report on Thursday, January 22nd. Finally, Scotiabank increased their price objective on Newmont from $114.00 to $152.00 and gave the stock an “outperform” rating in a report on Monday. Six research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $105.88.

Newmont Company 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.