Empowered Funds LLC Has $11.63 Million Position in Newmont Co. (NYSE:NEM)

Empowered Funds LLC boosted its holdings in Newmont Co. (NYSE:NEM) by 262.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 312,371 shares of the basic materials company’s stock after purchasing an additional 226,086 shares during the quarter. Empowered Funds LLC’s holdings in Newmont were worth $11,626,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NEM. Geode Capital Management LLC boosted its holdings in Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after acquiring an additional 326,243 shares during the last quarter. FMR LLC boosted its holdings in shares of Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after buying an additional 1,226,697 shares during the last quarter. Ninety One UK Ltd boosted its holdings in shares of Newmont by 27.5% in the 4th quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock worth $128,649,000 after buying an additional 744,718 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Newmont by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock worth $182,938,000 after buying an additional 9,500 shares during the last quarter. Finally, National Pension Service boosted its holdings in shares of Newmont by 27.9% in the 3rd quarter. National Pension Service now owns 2,533,077 shares of the basic materials company’s stock worth $135,393,000 after buying an additional 552,698 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James cut their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Royal Bank of Canada cut their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. CLSA started coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, Bernstein Bank boosted their price objective on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.44.

Newmont Stock Down 0.1 %

Shares of NEM opened at $44.85 on Friday. The business’s 50-day moving average price is $40.47 and its 200-day moving average price is $46.51. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Insider Transactions at Newmont

In other Newmont news, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is owned by corporate insiders.

About Newmont

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, Papua New Guinea, Ecuador, Fiji, and Ghana.