Azzad Asset Management Inc. ADV Has $2.13 Million Holdings in Newmont Corporation $NEM

Azzad Asset Management Inc. ADV lifted its position in shares of Newmont Corporation (NYSE:NEM) by 51.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,245 shares of the basic materials company’s stock after purchasing an additional 8,562 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Newmont were worth $2,128,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NEM. Physician Wealth Advisors Inc. lifted its stake in shares of Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after buying an additional 236 shares in the last quarter. Concord Wealth Partners increased its position in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 385 shares in the last quarter. Evermay Wealth Management LLC lifted its position in Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 400 shares in the last quarter. Capital A Wealth Management LLC lifted its position in Newmont by 1,648.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 478 shares in the last quarter. Finally, Caldwell Trust Co acquired a new position in Newmont during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Up 6.2%

Shares of NYSE:NEM opened at $115.27 on Monday. Newmont Corporation has a 1 year low of $41.23 and a 1 year high of $134.88. The company has a market capitalization of $125.79 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 0.88 and a beta of 0.40. The business has a fifty day moving average price of $107.05 and a two-hundred day moving average price of $89.18. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NEM shares. Bank of America raised their target price on Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Citigroup reissued a “buy” rating on shares of Newmont in a research report on Monday, January 12th. DZ Bank raised shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. Raymond James Financial increased their target price on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Finally, The Goldman Sachs Group raised their price target on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research report on Monday, January 12th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Newmont has an average rating of “Buy” and an average price target of $124.83.

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.