Newmont Corporation $NEM Stake Lifted by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC increased its position in shares of Newmont Corporation (NYSE:NEM) by 84.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,423 shares of the basic materials company’s stock after purchasing an additional 5,235 shares during the period. Transcend Capital Advisors LLC’s holdings in Newmont were worth $963,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Newmont in the 2nd quarter worth $919,170,000. Invesco Ltd. grew its holdings in Newmont by 45.0% during the second quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after acquiring an additional 4,839,447 shares during the period. Boston Partners raised its position in Newmont by 4,090.7% in the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after acquiring an additional 4,532,263 shares in the last quarter. LSV Asset Management acquired a new stake in Newmont in the 2nd quarter valued at about $187,206,000. Finally, Robeco Institutional Asset Management B.V. boosted 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 valued at $362,888,000 after purchasing an additional 2,723,044 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NEM opened at $112.83 on Tuesday. The company has a market capitalization of $123.12 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 0.86 and a beta of 0.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The business’s 50-day moving average is $105.05 and its 200-day moving average is $87.66. Newmont Corporation has a fifty-two week low of $41.23 and a fifty-two week high of $134.88.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. CIBC set a $112.00 price objective on Newmont and gave the company an “outperformer” rating in a research report on Friday, October 10th. TD Securities lifted their target price on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, BMO Capital Markets increased their price target on Newmont from $114.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Six investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $112.38.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on 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 directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.05% of the company’s stock.

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.