Newmont Corporation $NEM Shares Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC lifted its position in Newmont Corporation (NYSE:NEM) by 84.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 208,820 shares of the basic materials company’s stock after buying an additional 95,330 shares during the period. Great Lakes Advisors LLC’s holdings in Newmont were worth $17,606,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NEM. Fidelis Capital Partners LLC raised its position in Newmont by 3.9% during the third quarter. Fidelis Capital Partners LLC now owns 5,414 shares of the basic materials company’s stock valued at $456,000 after buying an additional 201 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of Newmont by 18.1% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 647,680 shares of the basic materials company’s stock valued at $54,558,000 after acquiring an additional 99,085 shares during the last quarter. Crumly & Associates Inc. grew its holdings in Newmont by 18.1% during the third quarter. Crumly & Associates Inc. now owns 10,141 shares of the basic materials company’s stock valued at $855,000 after purchasing an additional 1,554 shares during the last quarter. one8zero8 LLC bought a new position in Newmont in the 3rd quarter worth $253,000. Finally, Coastal Bridge Advisors LLC acquired a new position in Newmont during the 3rd quarter worth $216,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,080 shares of the company’s 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 owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,160 shares of company stock worth $767,206 over the last quarter. 0.05% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Bank of America upped their price target on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. The Goldman Sachs Group increased their price target on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Argus lifted their target price on Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Six research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Buy” and a consensus price target of $105.88.

Newmont Stock Up 3.9%

Shares of NYSE NEM opened at $132.01 on Thursday. Newmont Corporation has a 12-month low of $40.99 and a 12-month high of $132.40. The firm’s 50-day simple moving average is $103.05 and its 200 day simple moving average is $86.22. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The company has a market cap of $144.05 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 0.97 and a beta of 0.41.

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.