Mutual Advisors LLC Purchases 4,521 Shares of Newmont Corporation $NEM

Mutual Advisors LLC boosted its position in Newmont Corporation (NYSE:NEM) by 22.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,300 shares of the basic materials company’s stock after acquiring an additional 4,521 shares during the period. Mutual Advisors LLC’s holdings in Newmont were worth $2,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEM. Harbor Capital Advisors Inc. boosted its stake in shares of Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 139 shares during the last quarter. Concord Wealth Partners lifted its holdings in Newmont by 534.7% in the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares during the period. Evermay Wealth Management LLC lifted its holdings in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares during the period. Salomon & Ludwin LLC bought a new position in Newmont in the third quarter valued at approximately $44,000. Finally, Capital A Wealth Management LLC grew its holdings in Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 478 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NEM. BMO Capital Markets increased their price target on Newmont from $114.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Scotiabank increased their target price on Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Royal Bank Of Canada raised their target price on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Finally, UBS Group reissued a “buy” rating and set a $160.00 price objective on shares of Newmont in a research note on Friday. Six equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $112.38.

Newmont Price Performance

Shares of NEM opened at $112.83 on Tuesday. The stock has a 50 day simple moving average of $105.05 and a 200 day simple moving average of $87.66. Newmont Corporation has a 52-week low of $41.23 and a 52-week high of $134.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The firm has a market capitalization of $123.12 billion, a PE ratio of 17.52, a P/E/G ratio of 0.86 and a beta of 0.40.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.05% of the stock is owned by company 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.