LSV Asset Management Grows Stock Position in Newmont Corporation $NEM

LSV Asset Management increased its stake in shares of Newmont Corporation (NYSE:NEM) by 26.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,057,939 shares of the basic materials company’s stock after purchasing an additional 844,660 shares during the quarter. Newmont accounts for 0.8% of LSV Asset Management’s holdings, making the stock its 29th largest holding. LSV Asset Management owned about 0.37% of Newmont worth $342,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. increased its stake in shares of Newmont by 53.5% during the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after buying an additional 139 shares during the period. HHM Wealth Advisors LLC grew its holdings in Newmont by 26.4% during the 3rd quarter. HHM Wealth Advisors LLC now owns 670 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 140 shares in the last quarter. Fielder Capital Group LLC increased its position in shares of Newmont by 1.7% in the 3rd quarter. Fielder Capital Group LLC now owns 8,390 shares of the basic materials company’s stock valued at $707,000 after purchasing an additional 141 shares during the last quarter. Summit Financial Wealth Advisors LLC raised its holdings in shares of Newmont by 2.3% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock valued at $566,000 after purchasing an additional 145 shares in the last quarter. Finally, Welch Group LLC lifted its position in shares of Newmont by 1.3% during the 3rd quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock worth $1,027,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.05% of the stock is owned by company insiders.

Newmont Stock Performance

Shares of NEM opened at $124.60 on Thursday. The company’s 50 day simple moving average is $108.94 and its 200-day simple moving average is $90.23. The firm has a market cap of $135.97 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.07 and a beta of 0.40. Newmont Corporation has a 12-month low of $41.23 and a 12-month high of $134.88. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NEM shares. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Jefferies Financial Group raised their target price on Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. National Bank Financial boosted their target price on Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $177.00 price target on shares of Newmont in a research note on Wednesday, February 4th. Finally, Argus boosted their price objective on shares of Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $130.49.

About Newmont

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.