Ruffer LLP Decreases Stock Position in Newmont Corporation $NEM

Ruffer LLP decreased its holdings in Newmont Corporation (NYSE:NEM) by 82.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 884,017 shares of the basic materials company’s stock after selling 4,115,915 shares during the quarter. Newmont makes up about 4.1% of Ruffer LLP’s investment portfolio, making the stock its 6th largest position. Ruffer LLP’s holdings in Newmont were worth $74,531,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Estate Counselors LLC acquired a new position in Newmont in the 3rd quarter worth $4,182,000. Envestnet Asset Management Inc. increased its stake in Newmont by 176.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after buying an additional 285,897 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in shares of Newmont by 59.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock valued at $912,000 after acquiring an additional 5,848 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Newmont by 172.2% during the third 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 acquiring an additional 2,723,044 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Newmont by 73.3% in the third quarter. Farther Finance Advisors LLC now owns 30,056 shares of the basic materials company’s stock valued at $2,534,000 after purchasing an additional 12,717 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NEM has been the topic of several analyst reports. TD Cowen upped their price target on shares of Newmont from $89.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. Bank of America boosted their price target on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Jefferies Financial Group upped their price objective on Newmont from $120.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Scotiabank lifted their target price on Newmont from $114.00 to $152.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Citigroup reissued a “buy” rating on shares of Newmont in a report on Monday, January 12th. Six investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued 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 price target of $105.88.

Newmont Trading Up 3.9%

Shares of NYSE:NEM opened at $132.01 on Thursday. Newmont Corporation has a 12-month low of $40.99 and a 12-month high of $132.40. The business has a 50 day moving average of $103.05 and a 200-day moving average of $86.22. 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 has a market cap of $144.05 billion, a PE ratio of 20.50, a P/E/G ratio of 0.97 and a beta of 0.41.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, December 1st. The stock was 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 9,160 shares of company stock worth $767,206. Insiders own 0.05% of the company’s stock.

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.