AE Wealth Management LLC Raises Holdings in Newmont Corporation $NEM

AE Wealth Management LLC lifted its holdings in shares of Newmont Corporation (NYSE:NEM) by 11.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,327 shares of the basic materials company’s stock after buying an additional 9,264 shares during the period. AE Wealth Management LLC’s holdings in Newmont were worth $7,700,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Estate Counselors LLC bought a new stake in Newmont during the 3rd quarter worth approximately $4,182,000. AustralianSuper Pty Ltd raised its position in shares of Newmont by 124.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Newmont by 176.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after buying an additional 285,897 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in Newmont by 59.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after buying an additional 5,848 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Newmont by 172.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after buying an additional 2,723,044 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the transaction, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,160 shares of company stock valued at $767,206 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

Newmont Stock Down 11.5%

Shares of NYSE NEM opened at $112.30 on Friday. The stock has a market capitalization of $122.55 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 0.97 and a beta of 0.41. 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’s 50-day moving average price is $104.52 and its 200-day moving average price is $86.86.

Analysts Set New Price Targets

Several equities analysts have recently commented on NEM shares. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. CIBC set a $112.00 price target on shares of Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, TD Securities boosted their target price on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Newmont has an average rating of “Buy” and an average target price of $107.83.

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.