Newmont Corporation $NEM Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. cut its holdings in Newmont Corporation (NYSE:NEM) by 80.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,557 shares of the basic materials company’s stock after selling 172,958 shares during the quarter. Shell Asset Management Co.’s holdings in Newmont were worth $3,588,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NEM shares. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Argus raised their target price on shares of Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Macquarie Infrastructure boosted their price target on Newmont from $115.00 to $126.00 and gave the company an “outperform” rating in a report on Friday, February 6th. National Bank Financial raised their price objective on Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, Citigroup reiterated a “buy” rating on shares of Newmont in a research note on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.94.

Newmont Stock Performance

Shares of NYSE:NEM opened at $125.91 on Friday. The business has a 50-day moving average of $110.21 and a two-hundred day moving average of $91.05. The firm has a market capitalization of $137.40 billion, a PE ratio of 19.55, a P/E/G ratio of 1.05 and a beta of 0.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont Corporation has a 12 month low of $41.23 and a 12 month high of $134.88.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on 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 owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.05% of the company’s stock.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Gold rally is cited as the direct trigger for the rally in Newmont shares — bullion strength typically lifts Newmont’s revenue and margins. Why Newmont Corporation Stock Popped Today
• Positive Sentiment: Newmont has surged ~73% in six months on record gold prices and project progress, which supports investor sentiment and multiple expansion. Newmont Surges 73% in 6 Months: Buy, Sell or Hold the Stock?
• Positive Sentiment: Analysts expect earnings growth for the quarter, raising the probability of an earnings beat and giving upside risk into the report. Newmont Corporation (NEM) Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: Zacks style/momentum analyses highlight Newmont as a strong momentum stock, which can attract trend-following and quant flows. Here’s Why Newmont Corporation (NEM) is a Strong Momentum Stock
• Neutral Sentiment: Bank of America slightly trimmed its price target to $134 but kept a Buy rating — a modest model tweak that signals continued analyst support rather than a negative reassessment. Bank of America Slightly Lowers its Price Target on Newmont Corporation (NEM) to $134 While Maintaining a Buy Rating
• Neutral Sentiment: Zacks’ deeper look at Q4 metrics beyond revenue/EPS identifies items (production, AISC, by?product credits) that could drive post?earnings reaction — watch those line items. Exploring Analyst Estimates for Newmont (NEM) Q4 Earnings, Beyond Revenue and EPS
• Neutral Sentiment: Reminder: Newmont is projected to report quarterly results this week; the print and any guidance will likely be the next major catalyst. Newmont (NEM) Projected to Post Quarterly Earnings on Thursday
• Negative Sentiment: Separately, Newmont underperformed some peers on Thursday, highlighting that relative performance risk exists even amid a gold rally. Newmont Corp. stock underperforms Thursday when compared to competitors

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.