Mirae Asset Global Investments Co. Ltd. Has $16.84 Million Stock Holdings in Newmont Corporation $NEM

Mirae Asset Global Investments Co. Ltd. raised its position in Newmont Corporation (NYSE:NEM) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 199,782 shares of the basic materials company’s stock after acquiring an additional 9,934 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Newmont were worth $16,844,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NEM. Harbor Capital Advisors Inc. boosted its position in shares of Newmont by 53.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares in the last quarter. Concord Wealth Partners boosted its stake in Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares in the last quarter. Evermay Wealth Management LLC grew its position in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 400 shares during the period. Salomon & Ludwin LLC bought a new position in shares of Newmont during the third quarter valued at $44,000. Finally, Capital A Wealth Management LLC boosted its stake in shares of Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 478 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 value of $192,108.80. Following the sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were 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 of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 9,160 shares of company stock worth $767,206. 0.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on NEM. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Jefferies Financial Group lifted their price target on Newmont from $120.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. UBS Group reissued a “buy” rating and set a $160.00 price objective on shares of Newmont in a report on Friday. TD Cowen upped their target price on shares of Newmont from $89.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. Finally, BNP Paribas Exane lowered shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target for the company. in a report on Friday, December 5th. Six research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Buy” and an average price target of $107.83.

Newmont Stock Performance

Shares of NYSE:NEM opened at $112.30 on Friday. The firm’s 50 day simple moving average is $104.52 and its 200 day simple moving average is $86.86. Newmont Corporation has a fifty-two week low of $41.23 and a fifty-two week high of $134.88. The company has a market capitalization of $122.55 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 0.97 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

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.