Newmont Corporation $NEM Shares Acquired by Profund Advisors LLC

Profund Advisors LLC boosted its stake in Newmont Corporation (NYSE:NEM) by 38.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,290 shares of the basic materials company’s stock after acquiring an additional 42,232 shares during the period. Profund Advisors LLC’s holdings in Newmont were worth $12,924,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEM. Linden Thomas Advisory Services LLC purchased a new position in shares of Newmont in the 3rd quarter valued at approximately $284,000. Western Wealth Management LLC lifted its holdings in shares of Newmont by 10.5% during the third quarter. Western Wealth Management LLC now owns 22,429 shares of the basic materials company’s stock worth $1,891,000 after purchasing an additional 2,131 shares during the period. Candriam S.C.A. increased its stake in Newmont by 13.4% in the 3rd quarter. Candriam S.C.A. now owns 158,806 shares of the basic materials company’s stock valued at $13,389,000 after buying an additional 18,766 shares during the period. RFG Advisory LLC raised its position in Newmont by 82.4% during the 3rd quarter. RFG Advisory LLC now owns 46,510 shares of the basic materials company’s stock worth $3,921,000 after buying an additional 21,016 shares during the last quarter. Finally, Fielder Capital Group LLC lifted its stake in shares of Newmont by 1.7% in the 3rd quarter. Fielder Capital Group LLC now owns 8,390 shares of the basic materials company’s stock worth $707,000 after acquiring an additional 141 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

NYSE NEM opened at $115.27 on Monday. Newmont Corporation has a 1-year low of $41.23 and a 1-year high of $134.88. The company has a market capitalization of $125.79 billion, a P/E ratio of 17.90, a PEG ratio of 0.88 and a beta of 0.40. The business has a 50 day moving average price of $107.05 and a 200 day moving average price of $89.18. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NEM shares. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Macquarie Infrastructure lifted their price objective on Newmont from $115.00 to $126.00 and gave the company an “outperform” rating in a report on Friday. Bank of America increased their target price on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. BMO Capital Markets raised their price target on Newmont from $114.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Finally, UBS Group reaffirmed a “buy” rating and set a $160.00 price objective on shares of Newmont in a report on Friday, January 30th. Four equities 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $124.83.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction 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 completion of the transaction, the director owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company 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.