Azzad Asset Management Inc. ADV Has $2.13 Million Position in Newmont Corporation $NEM

Azzad Asset Management Inc. ADV grew its position in shares of Newmont Corporation (NYSE:NEM) by 51.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,245 shares of the basic materials company’s stock after purchasing an additional 8,562 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Newmont were worth $2,128,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the period. Woodline Partners LP grew its stake in shares of Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after purchasing an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Newmont in the second quarter worth $240,000. Callan Family Office LLC increased its holdings in Newmont by 252.6% in the second quarter. Callan Family Office LLC now owns 22,132 shares of the basic materials company’s stock valued at $1,289,000 after purchasing an additional 15,856 shares during the period. Finally, Blue Trust Inc. raised its position in Newmont by 7.7% during the 2nd quarter. Blue Trust Inc. now owns 15,622 shares of the basic materials company’s stock worth $910,000 after purchasing an additional 1,114 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Newmont Stock Performance

Shares of NEM stock opened at $115.27 on Monday. The firm has a 50 day moving average of $107.05 and a 200-day moving average of $89.18. The company has a market cap of $125.79 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth 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. Newmont Corporation has a 52 week low of $41.23 and a 52 week high of $134.88.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Macquarie Infrastructure increased their price target on Newmont from $115.00 to $126.00 and gave the company an “outperform” rating in a research note on Friday. 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 report on Monday, January 12th. Bank of America raised their price target on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. UBS Group restated a “buy” rating and issued a $160.00 price target on shares of Newmont in a research report on Friday, January 30th. Finally, BMO Capital Markets lifted their target price on shares of Newmont from $114.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Newmont currently has an average rating of “Buy” and a consensus price target of $124.83.

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.