Strategy Asset Managers LLC Invests $394,000 in Newmont Corporation $NEM

Strategy Asset Managers LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,669 shares of the basic materials company’s stock, valued at approximately $394,000.

A number of other hedge funds also recently bought and sold shares of the business. Concord Wealth Partners lifted its stake in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC boosted its stake in 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 buying an additional 400 shares during the period. Capital A Wealth Management LLC raised its stake in shares of Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 478 shares during the period. Caldwell Trust Co purchased a new position in shares of Newmont during the 2nd quarter worth about $31,000. Finally, Country Trust Bank bought a new position in Newmont during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NEM opened at $112.83 on Tuesday. The firm has a market capitalization of $123.12 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 0.86 and a beta of 0.40. 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 business’s 50-day moving average is $105.05 and its two-hundred day moving average is $87.66. Newmont Corporation has a 1 year low of $41.23 and a 1 year high of $134.88.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. TD Cowen boosted their target price on Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a research report on Thursday, January 22nd. Jefferies Financial Group lifted their price objective on shares of Newmont from $120.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Canaccord Genuity Group boosted their price target on Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a report on Friday, January 23rd. DZ Bank upgraded Newmont to a “strong-buy” rating in a report on Monday, January 19th. Finally, Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Six research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Newmont presently has an average rating of “Buy” and an average price target of $112.38.

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.