Strategy Asset Managers LLC Makes New Investment in Newmont Corporation $NEM

Strategy Asset Managers LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the third quarter, Holdings Channel.com reports. The fund purchased 4,669 shares of the basic materials company’s stock, valued at approximately $394,000.

Several other large investors also recently bought and sold shares of NEM. Estate Counselors LLC purchased a new stake in Newmont in the 3rd quarter worth $4,182,000. AustralianSuper Pty Ltd lifted its holdings in Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its position in shares of Newmont by 286.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after purchasing an additional 44,846 shares during the period. Envestnet Asset Management Inc. grew its position 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 purchasing an additional 285,897 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of 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 purchasing an additional 2,723,044 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 0.4%

Shares of Newmont stock opened at $112.83 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The stock’s 50 day simple moving average is $105.05 and its 200-day simple moving average is $87.66. The stock has a market cap of $123.12 billion, a P/E ratio of 17.52, a P/E/G 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.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research reports. Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. TD Securities increased their target price on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. National Bankshares raised their target price on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. The Goldman Sachs Group boosted their price target on Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, Jefferies Financial Group increased 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. Six research 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.com, the stock has a consensus rating of “Buy” and an average target price of $112.38.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s 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 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 filing with the SEC, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.

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.