Mutual of America Capital Management LLC Lowers Stock Holdings in Newmont Corporation $NEM

Mutual of America Capital Management LLC cut its holdings in Newmont Corporation (NYSE:NEM) by 6.3% in the third quarter, Holdings Channel reports. The institutional investor owned 140,500 shares of the basic materials company’s stock after selling 9,464 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Newmont were worth $11,846,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Concord Wealth Partners grew its stake in 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 acquiring an additional 385 shares during the period. Evermay Wealth Management LLC lifted its holdings in Newmont by 408.2% during 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 in the last quarter. Capital A Wealth Management LLC grew its position 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 purchasing an additional 478 shares during the period. Caldwell Trust Co acquired a new position in shares of Newmont during the 2nd quarter worth about $31,000. Finally, Country Trust Bank purchased a new position in Newmont in the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 1.3%

NYSE NEM opened at $125.97 on Tuesday. 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 market capitalization of $137.46 billion, a P/E ratio of 19.56, a PEG ratio of 0.95 and a beta of 0.41. The firm’s 50-day moving average is $101.35 and its two-hundred day moving average is $85.43. Newmont Corporation has a 12 month low of $40.85 and a 12 month high of $129.25.

Analysts Set New Price Targets

NEM has been the subject of several research reports. Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Jefferies Financial Group boosted their price target on Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. UBS Group raised their price objective on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a report on Monday, December 1st. Bank of America upped their target price on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Royal Bank Of Canada boosted their price target on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Six equities 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 company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $105.88.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction 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 represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,160 shares of company stock worth $767,206 over the last 90 days. 0.05% of the stock is owned by 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.