Mutual of America Capital Management LLC Has $5.62 Million Stock Position in Newmont Co. (NYSE:NEM)

Mutual of America Capital Management LLC lowered its position in shares of Newmont Co. (NYSE:NEMFree Report) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,989 shares of the basic materials company’s stock after selling 3,745 shares during the period. Mutual of America Capital Management LLC’s holdings in Newmont were worth $5,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Blair William & Co. IL grew its stake in Newmont by 14.8% in the 1st quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock worth $3,378,000 after buying an additional 5,484 shares in the last quarter. Sei Investments Co. grew its position in Newmont by 19.3% in the first quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock worth $5,219,000 after acquiring an additional 10,692 shares in the last quarter. Cetera Investment Advisers increased its stake in Newmont by 46.9% in the first quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock valued at $2,217,000 after acquiring an additional 8,915 shares during the last quarter. Baird Financial Group Inc. lifted its position in Newmont by 7.2% in the 1st quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock worth $47,324,000 after buying an additional 39,765 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Newmont by 25.8% in the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock worth $108,000 after buying an additional 278 shares in the last quarter. Institutional investors own 79.53% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $32.79 on Monday. The firm has a 50 day simple moving average of $38.02 and a 200-day simple moving average of $38.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.12 and a quick ratio of 1.72. The stock has a market cap of $26.06 billion, a price-to-earnings ratio of -31.83, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52. Newmont Co. has a 1-year low of $32.54 and a 1-year high of $52.76.

Insider Buying and Selling

In related news, COO Robert D. Atkinson sold 5,500 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $41.26, for a total value of $226,930.00. Following the transaction, the chief operating officer now directly owns 54,251 shares of the company’s stock, valued at approximately $2,238,396.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NEM shares. BMO Capital Markets reduced their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, January 17th. National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a research report on Wednesday, January 3rd. Raymond James cut their target price on Newmont from $59.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, October 27th. Royal Bank of Canada cut their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, UBS Group decreased their price objective on shares of Newmont from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, December 13th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.76.

Read Our Latest Stock Analysis on NEM

Newmont Company Profile

(Free Report)

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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