Newmont Corporation $NEM Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd raised its stake in Newmont Corporation (NYSE:NEM) by 97.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,701 shares of the basic materials company’s stock after acquiring an additional 50,203 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Newmont were worth $8,598,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NEM. Norges Bank acquired a new stake in Newmont in the 2nd quarter worth about $919,170,000. Invesco Ltd. increased its position in 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 during the last quarter. Legal & General Group Plc raised its stake in Newmont by 6.3% during the second quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock worth $433,236,000 after purchasing an additional 438,748 shares during the period. Boston Partners grew its stake in shares of Newmont by 4,090.7% during 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 during the period. Finally, National Pension Service increased its holdings in shares of Newmont by 2.7% during the 3rd quarter. National Pension Service now owns 4,354,264 shares of the basic materials company’s stock worth $367,108,000 after buying an additional 114,949 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

NEM stock opened at $112.30 on Monday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average is $104.52 and its two-hundred day moving average is $87.27. The company has a market capitalization of $122.55 billion, a PE ratio of 17.44, a P/E/G ratio of 0.86 and a beta of 0.40. Newmont Corporation has a 52-week low of $41.23 and a 52-week high of $134.88.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. The Goldman Sachs Group lifted their target price on Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a report on Monday, January 12th. TD Securities increased their target price on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. National Bankshares boosted their price objective on shares of Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Royal Bank Of Canada increased their price objective on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, UBS Group reaffirmed a “buy” rating and set a $160.00 price target on shares of Newmont in a research report on Friday. Six investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Buy” and an average 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.