Machina Capital S.A.S. Invests $3.55 Million in Newmont Corporation $NEM

Machina Capital S.A.S. bought a new stake in shares of Newmont Corporation (NYSE:NEM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 42,089 shares of the basic materials company’s stock, valued at approximately $3,549,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Newmont in the second quarter valued at about $919,170,000. Invesco Ltd. raised its position in shares of Newmont by 45.0% during 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 during the last quarter. Boston Partners lifted its stake in Newmont by 4,090.7% in the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock valued at $272,558,000 after buying an additional 4,532,263 shares in the last quarter. LSV Asset Management acquired a new stake in Newmont in the 2nd quarter worth about $187,206,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Newmont by 172.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after buying an additional 2,723,044 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.05% of the company’s stock.

Newmont Stock Up 3.9%

Shares of NYSE:NEM opened at $117.24 on Wednesday. Newmont Corporation has a 52-week low of $41.23 and a 52-week high of $134.88. The stock has a market cap of $127.94 billion, a P/E ratio of 18.21, a PEG ratio of 0.86 and a beta of 0.40. The business has a fifty day moving average of $105.67 and a two-hundred day moving average of $88.07. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Analysts Set New Price Targets

A number of brokerages have commented on NEM. TD Cowen increased their target price on Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. Canaccord Genuity Group increased their price objective on Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Finally, DZ Bank raised shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Six 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 a consensus target price of $112.38.

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.