AlphaQuest LLC Boosts Stake in Newmont Corporation $NEM

AlphaQuest LLC raised its holdings in shares of Newmont Corporation (NYSE:NEM) by 87.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,069 shares of the basic materials company’s stock after buying an additional 14,065 shares during the period. AlphaQuest LLC’s holdings in Newmont were worth $2,535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC boosted its holdings in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the period. Woodline Partners LP increased its stake in Newmont by 40.7% in the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after purchasing an additional 27,813 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Newmont during the second quarter worth $240,000. HB Wealth Management LLC boosted its stake in shares of Newmont by 39.9% during the second quarter. HB Wealth Management LLC now owns 27,719 shares of the basic materials company’s stock valued at $1,615,000 after purchasing an additional 7,904 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Newmont by 2,003.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock worth $92,119,000 after purchasing an additional 1,506,010 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research reports. BNP Paribas Exane cut shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price objective for the company. in a research report on Friday, December 5th. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. National Bankshares boosted their price target on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Jefferies Financial Group raised their price objective on Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Finally, Citigroup reaffirmed a “buy” rating on shares of Newmont in a research report on Monday, January 12th. 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, the company presently has an average rating of “Buy” and a consensus target price of $107.83.

Newmont Stock Down 11.5%

Shares of Newmont stock opened at $112.30 on Friday. 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 $122.55 billion, a P/E ratio of 17.44, a PEG ratio of 0.97 and a beta of 0.41. The firm’s 50 day moving average price is $104.52 and its 200-day moving average price is $86.86. Newmont Corporation has a 52-week low of $41.23 and a 52-week high of $134.88.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction on 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 directly owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of the company’s 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 transaction, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,160 shares of company stock worth $767,206 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

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.