Mutual of America Capital Management LLC Sells 3,745 Shares of Newmont Co. (NYSE:NEM)

Mutual of America Capital Management LLC lessened its position in Newmont Co. (NYSE:NEMFree Report) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,989 shares of the basic materials company’s stock after selling 3,745 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Newmont were worth $5,616,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Compass Wealth Management LLC purchased a new position in Newmont during the 4th quarter valued at $25,000. Stone House Investment Management LLC increased its stake in Newmont by 1,241.3% in the 2nd quarter. Stone House Investment Management LLC now owns 617 shares of the basic materials company’s stock worth $26,000 after buying an additional 571 shares during the period. TFC Financial Management Inc. lifted its holdings in Newmont by 242.2% during the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock valued at $26,000 after buying an additional 499 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Newmont in the 3rd quarter valued at about $26,000. Finally, Nemes Rush Group LLC bought a new position in Newmont in the 2nd quarter worth about $28,000. 79.53% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Down 1.6 %

Shares of Newmont stock opened at $32.79 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.12 and a quick ratio of 1.72. The stock’s 50 day simple moving average is $38.02 and its 200-day simple moving average is $38.44. The stock has a market cap of $26.06 billion, a P/E ratio of -31.83, a P/E/G ratio of 2.42 and a beta of 0.52. Newmont Co. has a 1-year low of $32.54 and a 1-year high of $52.76.

Wall Street Analyst Weigh In

NEM has been the subject of a number of research analyst reports. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research report on Wednesday, January 3rd. Macquarie began coverage on shares of Newmont in a research note on Tuesday, November 21st. They issued an “outperform” rating and a $45.00 price objective for the company. UBS Group dropped their price objective on shares of Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 13th. BMO Capital Markets reduced their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada dropped their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $54.76.

Get Our Latest Report on NEM

Insider Activity

In other Newmont news, COO Robert D. Atkinson sold 5,500 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $41.26, for a total transaction of $226,930.00. Following the completion of the sale, the chief operating officer now owns 54,251 shares of the company’s stock, valued at $2,238,396.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

Newmont Profile

(Free Report)

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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