Knights of Columbus Asset Advisors LLC Has $5.10 Million Stock Position in Newmont Corporation $NEM

Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Newmont Corporation (NYSE:NEM) by 286.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,499 shares of the basic materials company’s stock after buying an additional 44,846 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Newmont were worth $5,101,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Estate Counselors LLC acquired a new position in shares of Newmont during the third quarter worth $4,182,000. Envestnet Asset Management Inc. increased its stake in shares of Newmont by 176.4% in the second 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 period. Robeco Institutional Asset Management B.V. increased its position in Newmont by 172.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after purchasing an additional 2,723,044 shares during the period. Live Oak Investment Partners acquired a new stake in shares of Newmont during the third quarter worth $2,232,000. Finally, Farther Finance Advisors LLC raised its position in shares of Newmont by 73.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 30,056 shares of the basic materials company’s stock worth $2,534,000 after acquiring an additional 12,717 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. TD Securities boosted their price target on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Argus increased their target price on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. UBS Group lifted their price target on shares of Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Bank of America increased their price objective on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Royal Bank Of Canada upped their price target on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Six analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $105.88.

Newmont Stock Performance

Shares of NEM opened at $127.00 on Friday. The firm has a market capitalization of $138.59 billion, a P/E ratio of 19.72, a P/E/G ratio of 1.01 and a beta of 0.41. Newmont Corporation has a 52 week low of $41.23 and a 52 week high of $134.88. The stock has a 50 day moving average price of $103.95 and a two-hundred day moving average price of $86.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,160 shares of company stock valued at $767,206 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

Newmont Company 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.