Candriam S.C.A. Purchases 18,766 Shares of Newmont Corporation $NEM

Candriam S.C.A. grew its position in Newmont Corporation (NYSE:NEM) by 13.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 158,806 shares of the basic materials company’s stock after purchasing an additional 18,766 shares during the period. Candriam S.C.A.’s holdings in Newmont were worth $13,389,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. RFG Advisory LLC raised its position in Newmont by 82.4% in the 3rd quarter. RFG Advisory LLC now owns 46,510 shares of the basic materials company’s stock valued at $3,921,000 after buying an additional 21,016 shares during the last quarter. Fielder Capital Group LLC grew its stake in shares of Newmont by 1.7% during the 3rd quarter. Fielder Capital Group LLC now owns 8,390 shares of the basic materials company’s stock worth $707,000 after acquiring an additional 141 shares in the last quarter. Caliber Wealth Management LLC KS acquired a new stake in shares of Newmont in the third quarter valued at approximately $221,000. Azzad Asset Management Inc. ADV lifted its position in shares of Newmont by 51.3% in the third quarter. Azzad Asset Management Inc. ADV now owns 25,245 shares of the basic materials company’s stock worth $2,128,000 after purchasing an additional 8,562 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Newmont by 53.4% in the third quarter. Smartleaf Asset Management LLC now owns 11,445 shares of the basic materials company’s stock worth $968,000 after purchasing an additional 3,986 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NEM opened at $121.40 on Wednesday. The company has a market cap of $132.48 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 0.93 and a beta of 0.40. The firm has a 50-day moving average of $108.24 and a 200-day moving average of $89.99. Newmont Corporation has a one year low of $41.23 and a one year high of $134.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NEM shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $177.00 price target on shares of Newmont in a research note on Wednesday, February 4th. Jefferies Financial Group raised their price objective on Newmont from $120.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Raymond James Financial raised their price target on Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Finally, Canaccord Genuity Group boosted their price target on Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.49.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred 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. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.05% of the company’s stock.

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.