ABN AMRO Bank N.V. Purchases New Stake in Newmont Corporation $NEM

ABN AMRO Bank N.V. acquired a new stake in shares of Newmont Corporation (NYSE:NEM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 45,828 shares of the basic materials company’s stock, valued at approximately $3,858,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NEM. Bessemer Group Inc. lifted its position in shares of Newmont by 40.3% during the third quarter. Bessemer Group Inc. now owns 18,144 shares of the basic materials company’s stock worth $1,530,000 after purchasing an additional 5,210 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in Newmont by 8.0% in the third quarter. SBI Securities Co. Ltd. now owns 45,967 shares of the basic materials company’s stock valued at $3,875,000 after buying an additional 3,395 shares during the last quarter. Optimize Financial Inc acquired a new stake in Newmont during the third quarter valued at approximately $327,000. Savant Capital LLC lifted its holdings in Newmont by 52.0% during the 3rd quarter. Savant Capital LLC now owns 45,477 shares of the basic materials company’s stock worth $3,834,000 after buying an additional 15,561 shares during the last quarter. Finally, Machina Capital S.A.S. acquired a new position in shares of Newmont in the 3rd quarter worth approximately $3,549,000. Institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on NEM. Scotiabank upped their price target on Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. TD Cowen raised their price target on shares of Newmont from $89.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. Canaccord Genuity Group boosted their price objective on shares of Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Finally, BMO Capital Markets raised their target price on shares of Newmont from $114.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. 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. According to data from MarketBeat, Newmont currently has a consensus rating of “Buy” and a consensus price target of $117.11.

Newmont Stock Down 7.2%

Newmont stock opened at $108.40 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a one year low of $41.23 and a one year high of $134.88. The company has a 50-day simple moving average of $106.55 and a 200-day simple moving average of $88.41. The firm has a market capitalization of $118.29 billion, a P/E ratio of 16.83, a P/E/G ratio of 0.89 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.