Transcend Capital Advisors LLC Has $963,000 Stock Position in Newmont Corporation $NEM

Transcend Capital Advisors LLC lifted its holdings in Newmont Corporation (NYSE:NEM) by 84.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,423 shares of the basic materials company’s stock after purchasing an additional 5,235 shares during the period. Transcend Capital Advisors LLC’s holdings in Newmont were worth $963,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NEM. Concord Wealth Partners lifted 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 purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC grew its position in shares of Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares during the last quarter. Capital A Wealth Management LLC boosted its stake in Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 478 shares during the period. Caldwell Trust Co bought a new position in Newmont in the 2nd quarter worth approximately $31,000. Finally, Country Trust Bank acquired a new position in shares of Newmont during the second quarter worth approximately $32,000. Institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’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 transaction, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NEM shares. Canaccord Genuity Group raised their price objective on shares of Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. BNP Paribas Exane cut Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price objective on the stock. in a research report on Friday, December 5th. DZ Bank raised shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Finally, Raymond James Financial increased their target price on Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, January 15th. Six investment 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.com, Newmont currently has an average rating of “Buy” and an average target price of $112.38.

Newmont Stock Performance

NYSE NEM opened at $112.83 on Tuesday. Newmont Corporation has a 1-year low of $41.23 and a 1-year high of $134.88. The company has a 50 day moving average of $105.05 and a 200-day moving average of $87.66. 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 $123.12 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.86 and a beta of 0.40.

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.