Advisors Asset Management Inc. Has $8.70 Million Holdings in Newmont Corporation $NEM

Advisors Asset Management Inc. cut its holdings in shares of Newmont Corporation (NYSE:NEM) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,147 shares of the basic materials company’s stock after selling 4,765 shares during the quarter. Advisors Asset Management Inc.’s holdings in Newmont were worth $8,696,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NEM. Estate Counselors LLC bought a new stake in shares of Newmont during the 3rd quarter valued at about $4,182,000. AustralianSuper Pty Ltd lifted its position in shares of Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in Newmont by 286.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock worth $5,101,000 after purchasing an additional 44,846 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Newmont by 176.4% during the second 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 during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after purchasing an additional 2,723,044 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NYSE:NEM opened at $124.60 on Thursday. The company’s 50-day moving average is $108.94 and its two-hundred day moving average is $90.23. Newmont Corporation has a 12-month low of $41.23 and a 12-month high of $134.88. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The firm has a market cap of $135.97 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.07 and a beta of 0.40.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred 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 $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NEM. Jefferies Financial Group lifted their price target on shares of Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. The Goldman Sachs Group upped their price target on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research report on Monday, January 12th. Royal Bank Of Canada lifted their price objective on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Macquarie Infrastructure lifted their target price on shares of Newmont from $115.00 to $126.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Finally, 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 note on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.49.

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.