TFB Advisors LLC Makes New $422,000 Investment in Newmont Corporation $NEM

TFB Advisors LLC bought a new stake in Newmont Corporation (NYSE:NEM) during the 3rd quarter, HoldingsChannel reports. The fund bought 4,666 shares of the basic materials company’s stock, valued at approximately $422,000.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BMO Capital Markets increased their target price on Newmont from $114.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Citigroup restated a “buy” rating on shares of Newmont in a research note on Monday, January 12th. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Finally, CIBC set a $112.00 price target on Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. Six analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $112.38.

Newmont Price Performance

Shares of NEM opened at $112.83 on Tuesday. The stock has a market capitalization of $123.12 billion, a PE ratio of 17.52, a PEG ratio of 0.86 and a beta of 0.40. Newmont Corporation has a fifty-two week low of $41.23 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The company has a 50 day moving average price of $105.05 and a 200-day moving average price of $87.66.

Insider Activity

In other 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 value of $192,108.80. Following the completion of the transaction, the director directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.05% of the company’s stock.

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.