Vanguard Personalized Indexing Management LLC Increases Stake in Newmont Corporation $NEM

Vanguard Personalized Indexing Management LLC raised its stake in Newmont Corporation (NYSE:NEM) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 118,659 shares of the basic materials company’s stock after purchasing an additional 6,207 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Newmont were worth $10,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NEM. Harbor Capital Advisors Inc. increased its stake in Newmont by 53.5% during the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 139 shares during the last quarter. Concord Wealth Partners boosted its holdings in Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares during the period. Evermay Wealth Management LLC lifted its position in shares of Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 400 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Newmont during the 3rd quarter valued at $44,000. Finally, Capital A Wealth Management LLC lifted its holdings in Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after buying an additional 478 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NEM opened at $125.97 on Tuesday. Newmont Corporation has a 12 month low of $40.85 and a 12 month high of $129.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The stock has a fifty day moving average price of $101.35 and a 200 day moving average price of $85.43. The company has a market cap of $137.46 billion, a P/E ratio of 19.56, a PEG ratio of 0.95 and a beta of 0.41.

Analyst Ratings Changes

Several research firms recently commented on NEM. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. National Bankshares boosted their target price on shares of Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Raymond James Financial lifted their price target on Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Finally, Bank of America upped their price objective on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Six equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $105.88.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 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 disclosure for this sale is available in the SEC filing. Insiders sold 9,160 shares of company stock worth $767,206 in the last 90 days. 0.05% of the stock is owned by company insiders.

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.