Newmont Corporation $NEM Shares Sold by Prospector Partners LLC

Prospector Partners LLC reduced its position in shares of Newmont Corporation (NYSE:NEM) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,325 shares of the basic materials company’s stock after selling 5,562 shares during the period. Prospector Partners LLC’s holdings in Newmont were worth $6,857,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Estate Counselors LLC bought a new position in Newmont during the third quarter worth about $4,182,000. AustralianSuper Pty Ltd grew its position in Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after buying an additional 183,360 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in Newmont by 286.5% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock worth $5,101,000 after acquiring an additional 44,846 shares during the period. Envestnet Asset Management Inc. raised its holdings in Newmont by 176.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after acquiring an additional 285,897 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Newmont by 172.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after acquiring an additional 2,723,044 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated 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 directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.05% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. BNP Paribas Exane lifted their price objective on shares of Newmont from $97.00 to $123.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Jefferies Financial Group upped their target price on Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Newmont in a research note on Monday, December 29th. Finally, Royal Bank Of Canada boosted their target price on Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.94.

Newmont Stock Performance

NYSE:NEM opened at $124.84 on Thursday. The stock’s 50-day moving average is $112.12 and its 200-day moving average is $92.35. Newmont Corporation has a 1-year low of $41.23 and a 1-year high of $134.88. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The stock has a market cap of $136.23 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.02 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.