Newmont Corporation $NEM Shares Bought by LSV Asset Management

LSV Asset Management increased its position in Newmont Corporation (NYSE:NEM) by 26.3% during the third quarter, HoldingsChannel.com reports. The fund owned 4,057,939 shares of the basic materials company’s stock after acquiring an additional 844,660 shares during the quarter. Newmont accounts for approximately 0.8% of LSV Asset Management’s holdings, making the stock its 29th largest holding. LSV Asset Management’s holdings in Newmont were worth $342,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the company. Plan A Wealth LLC purchased a new stake in Newmont during the third quarter worth $234,000. Caprock Group LLC acquired a new position in shares of Newmont during the 3rd quarter worth $5,844,000. Krilogy Financial LLC purchased a new stake in shares of Newmont in the 3rd quarter worth about $1,269,000. Stratos Investment Management LLC acquired a new stake in Newmont in the 3rd quarter valued at about $222,000. Finally, Baader Bank Aktiengesellschaft increased its holdings in Newmont by 41.1% during the 3rd quarter. Baader Bank Aktiengesellschaft now owns 34,587 shares of the basic materials company’s stock valued at $2,715,000 after acquiring an additional 10,066 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Up 2.5%

Shares of NEM opened at $124.60 on Thursday. 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 $135.97 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.07 and a beta of 0.40. The stock has a fifty day moving average of $108.94 and a two-hundred day moving average of $90.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the transaction, the director directly owned 32,709 shares in the company, 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 filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on NEM shares. TD Cowen upped their price target on shares of Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. DZ Bank upgraded Newmont to a “strong-buy” rating in a research report on Monday, January 19th. National Bank Financial increased their target price on Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. The Goldman Sachs Group raised their price target on Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, Citigroup restated a “buy” rating on shares of Newmont in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $130.49.

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.