Newmont Corporation $NEM Stock Holdings Reduced by Ruffer LLP

Ruffer LLP cut its position in shares of Newmont Corporation (NYSE:NEM) by 82.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 884,017 shares of the basic materials company’s stock after selling 4,115,915 shares during the period. Newmont accounts for about 4.1% of Ruffer LLP’s investment portfolio, making the stock its 6th largest position. Ruffer LLP owned approximately 0.08% of Newmont worth $74,531,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Newmont by 15.7% during the 4th 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 last quarter. Woodline Partners LP boosted its stake 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 in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Newmont during the 2nd quarter valued at about $240,000. Sound Income Strategies LLC raised its stake in shares of Newmont by 255.7% in the 2nd quarter. Sound Income Strategies LLC now owns 2,643 shares of the basic materials company’s stock valued at $154,000 after acquiring an additional 1,900 shares in the last quarter. Finally, GC Wealth Management RIA LLC acquired a new stake in Newmont in the 2nd quarter worth approximately $381,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Up 3.9%

NEM opened at $132.01 on Thursday. Newmont Corporation has a fifty-two week low of $40.99 and a fifty-two week high of $132.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm’s fifty day moving average price is $103.05 and its two-hundred day moving average price is $86.22. The company has a market capitalization of $144.05 billion, a P/E ratio of 20.50, a P/E/G ratio of 0.97 and a beta of 0.41.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NEM shares. Bank of America boosted their price objective on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. DZ Bank raised Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Macquarie upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. Finally, Raymond James Financial raised their price objective on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Six equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $105.88.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’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 value of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 9,160 shares of company stock worth $767,206. 0.05% of the stock is currently owned by insiders.

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.