Envestnet Asset Management Inc. Has $62.55 Million Stock Holdings in Newmont Corporation $NEM

Envestnet Asset Management Inc. boosted its position in shares of Newmont Corporation (NYSE:NEM) by 65.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 741,861 shares of the basic materials company’s stock after purchasing an additional 293,901 shares during the period. Envestnet Asset Management Inc. owned 0.07% of Newmont worth $62,546,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NEM. Estate Counselors LLC acquired a new stake in shares of Newmont in the third quarter valued at about $4,182,000. AustralianSuper Pty Ltd boosted its stake in Newmont by 124.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares during the period. Knights of Columbus Asset Advisors LLC grew its holdings in Newmont by 286.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after buying an additional 44,846 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Newmont by 172.2% in 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. Finally, Live Oak Investment Partners acquired a new position in shares of Newmont during the third quarter worth approximately $2,232,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on 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 directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NEM shares. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Royal Bank Of Canada raised their price target on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. BNP Paribas Exane lowered shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price objective for the company. in a research report on Friday, December 5th. Bank of America increased their target price on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, Macquarie Infrastructure boosted their price target on Newmont from $115.00 to $126.00 and gave the company an “outperform” rating in a research note on Friday. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $124.83.

Newmont Price Performance

Shares of Newmont stock opened at $115.27 on Monday. The firm has a market cap of $125.79 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 0.88 and a beta of 0.40. The firm’s 50-day simple moving average is $107.05 and its 200-day simple moving average is $89.18. Newmont Corporation has a twelve month low of $41.23 and a twelve month high of $134.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

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.