Newmont Corporation $NEM Stock Holdings Boosted by Colrain Capital LLC

Colrain Capital LLC grew its stake in shares of Newmont Corporation (NYSE:NEM) by 11.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 222,600 shares of the basic materials company’s stock after purchasing an additional 23,250 shares during the quarter. Newmont makes up about 10.7% of Colrain Capital LLC’s holdings, making the stock its biggest position. Colrain Capital LLC’s holdings in Newmont were worth $18,767,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Estate Counselors LLC purchased a new position in Newmont in the 3rd quarter valued at about $4,182,000. AustralianSuper Pty Ltd lifted its stake in shares of Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after buying an additional 183,360 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in Newmont by 286.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock worth $5,101,000 after acquiring an additional 44,846 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Newmont by 176.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after acquiring an additional 285,897 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted 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 period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE:NEM opened at $125.91 on Tuesday. The company has a market cap of $137.40 billion, a P/E ratio of 19.55, a PEG ratio of 1.05 and a beta of 0.40. Newmont Corporation has a one year low of $41.23 and a one year high of $134.88. The business’s 50-day simple moving average is $110.95 and its 200 day simple moving average is $91.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

Insider Buying and Selling at Newmont

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 value of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on NEM. DZ Bank raised Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Royal Bank Of Canada upped their price objective on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Citigroup reissued a “buy” rating on shares of Newmont in a research report on Monday, January 12th. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, BMO Capital Markets boosted their target price on Newmont from $114.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.94.

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.