AlphaQuest LLC Buys 14,065 Shares of Newmont Corporation $NEM

AlphaQuest LLC lifted its stake in Newmont Corporation (NYSE:NEM) by 87.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,069 shares of the basic materials company’s stock after buying an additional 14,065 shares during the quarter. AlphaQuest LLC’s holdings in Newmont were worth $2,535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Concord Wealth Partners lifted its holdings in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares in the last quarter. Evermay Wealth Management LLC raised its position in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Capital A Wealth Management LLC lifted its stake in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after buying an additional 478 shares in the last quarter. Caldwell Trust Co bought a new position in Newmont in the 2nd quarter worth $31,000. Finally, Country Trust Bank purchased a new stake in Newmont in the 2nd quarter worth $32,000. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NEM has been the topic of several research analyst reports. Macquarie upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Citigroup reissued a “buy” rating on shares of Newmont in a report on Monday, January 12th. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Finally, The Goldman Sachs Group boosted their price target on shares of Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research note on Monday, January 12th. Six 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $107.83.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont 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 completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,160 shares of company stock worth $767,206 over the last three months. 0.05% of the stock is currently owned by insiders.

Newmont Stock Performance

Shares of NYSE:NEM opened at $112.30 on Friday. The firm has a fifty day simple moving average of $104.52 and a two-hundred day simple moving average of $86.86. Newmont Corporation has a 52 week low of $41.23 and a 52 week high of $134.88. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $122.55 billion, a P/E ratio of 17.44, a PEG ratio of 0.97 and a beta of 0.41.

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.