Great Lakes Advisors LLC Has $17.61 Million Stock Holdings in Newmont Corporation $NEM

Great Lakes Advisors LLC raised its holdings in shares of Newmont Corporation (NYSE:NEM) by 84.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 208,820 shares of the basic materials company’s stock after acquiring an additional 95,330 shares during the period. Great Lakes Advisors LLC’s holdings in Newmont were worth $17,606,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Newmont during the 2nd quarter worth about $919,170,000. Invesco Ltd. boosted its position in shares of Newmont by 45.0% during the second 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. Legal & General Group Plc increased its position in shares of Newmont by 6.3% in the 2nd quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock valued at $433,236,000 after buying an additional 438,748 shares in the last quarter. Boston Partners lifted its holdings in Newmont by 4,090.7% during the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after acquiring an additional 4,532,263 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Newmont by 34.7% during the third quarter. Nordea Investment Management AB now owns 4,336,873 shares of the basic materials company’s stock worth $366,553,000 after purchasing an additional 1,116,811 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on NEM. TD Cowen raised their price objective on shares of Newmont from $89.00 to $120.00 and gave the stock a “hold” rating in a report on Thursday, January 22nd. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. CIBC set a $112.00 price objective on shares of Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. National Bankshares lifted their price target on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Finally, Macquarie raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Six research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Newmont currently has an average rating of “Buy” and a consensus target price of $105.88.

Newmont Stock Performance

NYSE:NEM opened at $132.01 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The stock has a market cap of $144.05 billion, a P/E ratio of 20.50, a PEG ratio of 0.97 and a beta of 0.41. The stock has a 50 day simple moving average of $103.05 and a 200 day simple moving average of $86.22. Newmont Corporation has a 1-year low of $40.99 and a 1-year high of $132.40.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is currently owned by corporate insiders.

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.