Mutual Advisors LLC Has $2.16 Million Stake in Newmont Corporation $NEM

Mutual Advisors LLC lifted its position in shares of Newmont Corporation (NYSE:NEM) by 22.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 24,300 shares of the basic materials company’s stock after purchasing an additional 4,521 shares during the quarter. Mutual Advisors LLC’s holdings in Newmont were worth $2,161,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Newmont during the 2nd quarter worth approximately $919,170,000. Invesco Ltd. lifted its position in shares of Newmont by 45.0% in the second quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after purchasing an additional 4,839,447 shares in the last quarter. Boston Partners boosted its holdings in Newmont by 4,090.7% during 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 during the last quarter. LSV Asset Management bought a new position in Newmont in the second quarter valued at $187,206,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Newmont by 172.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after buying an additional 2,723,044 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NEM shares. Royal Bank Of Canada increased their price objective on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. UBS Group reiterated a “buy” rating and set a $160.00 target price on shares of Newmont in a report on Friday. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Bank of America upped their price objective on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Six investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $112.38.

Newmont Price Performance

NYSE:NEM opened at $112.83 on Tuesday. Newmont Corporation has a 12-month low of $41.23 and a 12-month high of $134.88. The firm has a market capitalization of $123.12 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 0.86 and a beta of 0.40. The stock’s 50 day moving average price is $105.05 and its two-hundred day moving average price is $87.66. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were 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 in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.05% of the stock is owned by corporate insiders.

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.