Newmont Corporation $NEM is Colrain Capital LLC’s Largest Position

Colrain Capital LLC lifted its holdings in shares of Newmont Corporation (NYSE:NEM) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,600 shares of the basic materials company’s stock after buying an additional 23,250 shares during the quarter. Newmont makes up approximately 10.7% of Colrain Capital LLC’s investment portfolio, making the stock its largest position. Colrain Capital LLC’s holdings in Newmont were worth $18,767,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP increased its stake in Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after buying an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Newmont during the second quarter valued at approximately $240,000. Harbour Investments Inc. lifted its position in shares of Newmont by 2.8% in the second quarter. Harbour Investments Inc. now owns 7,172 shares of the basic materials company’s stock valued at $418,000 after acquiring an additional 192 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of Newmont by 115.6% in the second quarter. Stratos Wealth Partners LTD. now owns 51,201 shares of the basic materials company’s stock worth $2,983,000 after acquiring an additional 27,456 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 6.6%

NEM opened at $125.91 on Tuesday. The business has a fifty day moving average price of $110.95 and a 200 day moving average price of $91.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont Corporation has a 12 month low of $41.23 and a 12 month high of $134.88. The stock has a market capitalization of $137.40 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.05 and a beta of 0.40.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the business’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 transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. National Bank Financial boosted their price target on shares of Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Jefferies Financial Group boosted their price objective on Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. The Goldman Sachs Group raised their target price on Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research note on Monday, January 12th. UBS Group reissued a “buy” rating and set a $160.00 price target on shares of Newmont in a research report on Friday, January 30th. Finally, BMO Capital Markets boosted their target price on shares of Newmont from $114.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $131.94.

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.