Savant Capital LLC Purchases 15,561 Shares of Newmont Corporation $NEM

Savant Capital LLC increased its position in shares of Newmont Corporation (NYSE:NEM) by 52.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,477 shares of the basic materials company’s stock after buying an additional 15,561 shares during the period. Savant Capital LLC’s holdings in Newmont were worth $3,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Estate Counselors LLC acquired a new position in shares of Newmont in the third quarter valued at about $4,182,000. AustralianSuper Pty Ltd raised its stake in Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in Newmont by 286.5% in the 3rd 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% during the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock worth $26,098,000 after purchasing an additional 285,897 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings 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 during the period. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup reiterated a “buy” rating on shares of Newmont in a research note on Monday, January 12th. Macquarie Infrastructure raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. BMO Capital Markets increased their target price on Newmont from $114.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Bank of America raised their price target on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Buy” and a consensus target price of $117.11.

Newmont Trading Up 6.2%

Shares of NEM opened at $115.27 on Friday. Newmont Corporation has a 52-week low of $41.23 and a 52-week high of $134.88. The business’s fifty day moving average is $107.05 and its 200-day moving average is $88.80. 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 firm has a market cap of $125.79 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 0.83 and a beta of 0.40.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.05% of the stock is owned by company insiders.

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.