Mirae Asset Global Investments Co. Ltd. Has $16.84 Million Stake in Newmont Corporation $NEM

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Newmont Corporation (NYSE:NEM) by 5.2% during the third quarter, Holdings Channel.com reports. The fund owned 199,782 shares of the basic materials company’s stock after acquiring an additional 9,934 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Newmont were worth $16,844,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,160 shares of company stock worth $767,206 in the last quarter. 0.05% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on NEM shares. National Bankshares upped their price objective on Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Citigroup reissued a “buy” rating on shares of Newmont in a report on Monday, January 12th. BNP Paribas Exane downgraded shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target on the stock. in a research note on Friday, December 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Finally, Raymond James Financial raised their target price on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $107.83.

Newmont Price Performance

NEM 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 firm has a market cap of $122.55 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 0.97 and a beta of 0.41. The company’s fifty day simple moving average is $104.52 and its 200 day simple moving average is $86.86. Newmont Corporation has a 12-month low of $41.23 and a 12-month high of $134.88.

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.