Candriam S.C.A. Buys 18,766 Shares of Newmont Corporation $NEM

Candriam S.C.A. boosted its position in shares of Newmont Corporation (NYSE:NEM) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 158,806 shares of the basic materials company’s stock after buying an additional 18,766 shares during the quarter. Candriam S.C.A.’s holdings in Newmont were worth $13,389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Newmont in the second quarter valued at about $919,170,000. Invesco Ltd. raised its holdings in Newmont by 45.0% during the 2nd 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 during the last quarter. Boston Partners lifted its position in Newmont by 4,090.7% during 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 during the period. LSV Asset Management bought a new position in shares of Newmont in the 2nd quarter valued at about $187,206,000. Finally, Robeco Institutional Asset Management B.V. grew its position 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 buying an additional 2,723,044 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Scotiabank increased their price objective on shares of Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a report on Monday, January 26th. National Bankshares increased their price target on Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Citigroup restated a “buy” rating on shares of Newmont in a research report on Monday, January 12th. Bank of America upped their price objective on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Argus raised their target price on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $130.49.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.05% of the company’s stock.

Newmont Price Performance

Shares of NEM stock opened at $121.40 on Wednesday. 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 $132.48 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 0.93 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 $108.24 and a 200-day moving average of $89.99.

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.