Federated Hermes Inc. Purchases 9,119 Shares of Newmont Corporation $NEM

Federated Hermes Inc. boosted its position in shares of Newmont Corporation (NYSE:NEM) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 947,142 shares of the basic materials company’s stock after purchasing an additional 9,119 shares during the period. Federated Hermes Inc. owned about 0.09% of Newmont worth $79,854,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Estate Counselors LLC purchased a new stake in shares of Newmont during the third quarter worth about $4,182,000. Envestnet Asset Management Inc. boosted its stake 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 worth $26,098,000 after purchasing an additional 285,897 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its position in Newmont by 59.6% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after purchasing an additional 5,848 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in 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. Finally, Farther Finance Advisors LLC increased its stake in Newmont by 73.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 30,056 shares of the basic materials company’s stock valued at $2,534,000 after purchasing an additional 12,717 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group lifted their price objective on shares of Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Citigroup restated a “buy” rating on shares of Newmont in a research note on Monday, January 12th. Argus lifted their price target on Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, National Bankshares raised their price objective on Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Six analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $105.88.

Newmont Trading Up 3.9%

NYSE NEM opened at $132.01 on Thursday. Newmont Corporation has a 1 year low of $40.99 and a 1 year high of $132.40. 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 company has a market capitalization of $144.05 billion, a PE ratio of 20.50, a P/E/G ratio of 0.97 and a beta of 0.41. The company has a fifty day moving average of $103.05 and a 200 day moving average of $86.22.

Insider Activity

In other news, Director Bruce R. Brook sold 2,080 shares of the company’s 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 sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 9,160 shares of company stock valued at $767,206. Insiders own 0.05% of the company’s stock.

About Newmont

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.