Mn Services Vermogensbeheer B.V. Purchases 4,900 Shares of Newmont Corporation $NEM

Mn Services Vermogensbeheer B.V. grew its position in Newmont Corporation (NYSE:NEM) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 426,380 shares of the basic materials company’s stock after purchasing an additional 4,900 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Newmont were worth $35,948,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its stake in Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 139 shares during the period. HHM Wealth Advisors LLC lifted its holdings in shares of Newmont by 26.4% during the third quarter. HHM Wealth Advisors LLC now owns 670 shares of the basic materials company’s stock worth $56,000 after buying an additional 140 shares in the last quarter. Summit Financial Wealth Advisors LLC boosted its position in shares of Newmont by 2.3% in the third quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock valued at $566,000 after acquiring an additional 145 shares during the period. Welch Group LLC grew its stake in shares of Newmont by 1.3% in the third quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock valued at $1,027,000 after acquiring an additional 153 shares in the last quarter. Finally, Resonant Capital Advisors LLC increased its position in Newmont by 3.8% during the third quarter. Resonant Capital Advisors LLC now owns 4,401 shares of the basic materials company’s stock worth $371,000 after acquiring an additional 163 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. CIBC set a $112.00 price target on shares of Newmont and gave the company an “outperformer” rating in a research report on Friday, October 10th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. BNP Paribas Exane downgraded Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price for the company. in a research report on Friday, December 5th. Finally, TD Securities raised their price target on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $99.49.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is owned by corporate insiders.

Newmont Stock Up 2.2%

Shares of NEM opened at $124.34 on Friday. The firm has a 50 day simple moving average of $100.57 and a two-hundred day simple moving average of $84.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont Corporation has a one year low of $40.85 and a one year high of $124.64. The company has a market cap of $135.69 billion, a P/E ratio of 19.31, a P/E/G ratio of 0.92 and a beta of 0.41.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the business posted $0.81 EPS. The company’s revenue was up 20.0% compared to the same quarter last year. Research analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

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.