NEOS Investment Management LLC Purchases 45,108 Shares of Newmont Corporation $NEM

NEOS Investment Management LLC lifted its position in Newmont Corporation (NYSE:NEM) by 42.6% during the third quarter, Holdings Channel reports. The institutional investor owned 150,963 shares of the basic materials company’s stock after buying an additional 45,108 shares during the quarter. NEOS Investment Management LLC’s holdings in Newmont were worth $12,728,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Newmont in the second quarter worth $919,170,000. Invesco Ltd. boosted its position in shares of Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after purchasing an additional 4,839,447 shares in the last quarter. Boston Partners grew its stake in Newmont by 4,090.7% during the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after buying an additional 4,532,263 shares during the last quarter. LSV Asset Management purchased a new stake in Newmont in the second quarter valued at about $187,206,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in Newmont by 172.2% in the third 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 buying an additional 2,723,044 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the company’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 value of $192,108.80. Following the sale, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.05% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $122.17 on Wednesday. The firm has a market capitalization of $133.32 billion, a P/E ratio of 18.97, a PEG ratio of 1.05 and a beta of 0.40. The stock has a 50-day simple moving average of $111.51 and a two-hundred day simple moving average of $92.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a fifty-two week low of $41.23 and a fifty-two week high of $134.88.

Wall Street Analysts Forecast Growth

NEM has been the topic of several recent analyst reports. BNP Paribas Exane upped their price objective on shares of Newmont from $97.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Argus upped their price target on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Jefferies Financial Group lifted their price objective on shares of Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. BMO Capital Markets upped their target price on Newmont from $114.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Finally, UBS Group reaffirmed a “buy” rating and set a $160.00 price target on shares of Newmont in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.94.

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.