Atlatl Advisers LLC Invests $1.92 Million in Newmont Corporation $NEM

Atlatl Advisers LLC bought a new stake in Newmont Corporation (NYSE:NEM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,817 shares of the basic materials company’s stock, valued at approximately $1,924,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NEM. Norges Bank acquired a new stake in Newmont during the second quarter worth about $919,170,000. Invesco Ltd. increased its holdings in shares of Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after buying an additional 4,839,447 shares during the last quarter. Legal & General Group Plc raised its position in shares of Newmont by 6.3% during the 2nd quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock valued at $433,236,000 after buying an additional 438,748 shares during the period. Boston Partners lifted its holdings in Newmont by 4,090.7% in the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock valued at $272,558,000 after acquiring an additional 4,532,263 shares during the last quarter. Finally, National Pension Service grew its position in Newmont by 2.7% in the third quarter. National Pension Service now owns 4,354,264 shares of the basic materials company’s stock worth $367,108,000 after acquiring an additional 114,949 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. BNP Paribas Exane lowered Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target on the stock. in a research note on Friday, December 5th. CIBC set a $112.00 price objective on shares of Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Macquarie upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. Finally, Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Six analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Buy” and a consensus target price of $112.38.

Newmont Price Performance

Newmont stock opened at $112.30 on Monday. 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 company has a market cap of $122.55 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 0.86 and a beta of 0.40. Newmont Corporation has a 1 year low of $41.23 and a 1 year high of $134.88. The firm has a 50 day moving average price of $104.52 and a 200 day moving average price of $87.27.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value 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. The trade was a 5.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is owned by corporate 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.