Newmont Corporation $NEM Shares Acquired by Profund Advisors LLC

Profund Advisors LLC increased its stake in shares of Newmont Corporation (NYSE:NEM) by 38.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 153,290 shares of the basic materials company’s stock after buying an additional 42,232 shares during the quarter. Profund Advisors LLC’s holdings in Newmont were worth $12,924,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Newmont during the second quarter valued at $919,170,000. Invesco Ltd. raised its stake in Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after purchasing an additional 4,839,447 shares during the last quarter. Boston Partners lifted its holdings in Newmont by 4,090.7% in the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock valued at $272,558,000 after purchasing an additional 4,532,263 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Newmont during the 2nd quarter worth about $187,206,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Newmont by 172.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after purchasing an additional 2,723,044 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Macquarie Infrastructure lifted their target price on shares of Newmont from $115.00 to $126.00 and gave the stock an “outperform” rating in a research note on Friday. BNP Paribas Exane lowered Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target on the stock. in a research note on Friday, December 5th. Argus raised their price objective on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Finally, The Goldman Sachs Group upped their target price on Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research note on Monday, January 12th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Newmont has an average rating of “Buy” and an average price target of $124.83.

Insiders Place Their Bets

In other Newmont 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 transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.05% of the company’s stock.

Newmont Stock Up 6.2%

Shares of NYSE NEM opened at $115.27 on Monday. The stock has a market capitalization of $125.79 billion, a PE ratio of 17.90, a P/E/G ratio of 0.88 and a beta of 0.40. 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 firm has a fifty day moving average of $107.05 and a 200-day moving average of $89.18. Newmont Corporation has a 52-week low of $41.23 and a 52-week high of $134.88.

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.