Pathstone Family Office LLC Increases Holdings in Newmont Co. (NYSE:NEM)

Pathstone Family Office LLC raised its stake in shares of Newmont Co. (NYSE:NEMFree Report) by 448.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,191 shares of the basic materials company’s stock after acquiring an additional 36,131 shares during the period. Pathstone Family Office LLC’s holdings in Newmont were worth $1,634,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Newmont by 4.6% during the 2nd quarter. BlackRock Inc. now owns 99,433,731 shares of the basic materials company’s stock worth $4,241,843,000 after purchasing an additional 4,409,771 shares during the period. State Street Corp increased its position in Newmont by 0.3% during the 2nd quarter. State Street Corp now owns 40,353,343 shares of the basic materials company’s stock worth $1,721,474,000 after purchasing an additional 121,393 shares during the period. Charles Schwab Investment Management Inc. increased its position in Newmont by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock worth $628,278,000 after purchasing an additional 483,377 shares during the period. Geode Capital Management LLC increased its position in Newmont by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 14,610,735 shares of the basic materials company’s stock worth $622,663,000 after purchasing an additional 321,030 shares during the period. Finally, Flossbach Von Storch AG increased its position in Newmont by 2.9% during the 2nd quarter. Flossbach Von Storch AG now owns 14,296,942 shares of the basic materials company’s stock worth $609,908,000 after purchasing an additional 404,403 shares during the period. Institutional investors and hedge funds own 79.53% of the company’s stock.

Newmont Trading Down 1.6 %

Shares of NEM opened at $32.79 on Monday. The company has a current ratio of 2.12, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $26.06 billion, a P/E ratio of -31.83, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52. The stock’s fifty day simple moving average is $38.02 and its 200 day simple moving average is $38.44. Newmont Co. has a twelve month low of $32.54 and a twelve month high of $52.76.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research reports. Macquarie initiated coverage on Newmont in a report on Tuesday, November 21st. They issued an “outperform” rating and a $45.00 price target on the stock. UBS Group lowered their price target on Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, December 13th. BMO Capital Markets lowered their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, January 17th. Raymond James lowered their price target on Newmont from $59.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Finally, Royal Bank of Canada lowered their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.76.

Get Our Latest Analysis on NEM

Insider Activity at Newmont

In related news, COO Robert D. Atkinson sold 5,500 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $41.26, for a total value of $226,930.00. Following the completion of the sale, the chief operating officer now directly owns 54,251 shares in the company, valued at approximately $2,238,396.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.

Newmont Profile

(Free Report)

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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