AlTi Global Inc. Raises Position in Newmont Corporation $NEM

AlTi Global Inc. increased its holdings in Newmont Corporation (NYSE:NEM) by 85.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,009 shares of the basic materials company’s stock after purchasing an additional 18,441 shares during the period. AlTi Global Inc.’s holdings in Newmont were worth $3,373,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NEM. Brighton Jones LLC increased its stake in shares of Newmont by 15.7% during 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 last quarter. Woodline Partners LP increased its position in Newmont by 40.7% during 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 purchased a new position in Newmont during the second quarter worth approximately $240,000. Apollon Wealth Management LLC boosted its holdings in shares of Newmont by 101.5% in the 2nd quarter. Apollon Wealth Management LLC now owns 22,112 shares of the basic materials company’s stock valued at $1,288,000 after purchasing an additional 11,139 shares during the last quarter. Finally, Concurrent Investment Advisors LLC grew its stake in shares of Newmont by 26.3% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 12,393 shares of the basic materials company’s stock valued at $722,000 after buying an additional 2,581 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Up 0.6%

NYSE NEM opened at $121.40 on Wednesday. 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 fifty-two week low of $41.23 and a fifty-two week high of $134.88. The business has a 50 day moving average price of $108.24 and a two-hundred day moving average price of $89.99. The stock has a market cap of $132.48 billion, a PE ratio of 18.85, a P/E/G ratio of 0.93 and a beta of 0.40.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. BNP Paribas Exane lowered Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price on the stock. in a research report on Friday, December 5th. Stifel Nicolaus lifted their price objective on Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Finally, Scotiabank lifted their price target on shares of Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $130.49.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were 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 of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.05% of the company’s stock.

Newmont 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.