29,764 Shares of Newmont Corporation $NEM Purchased by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 29,764 shares of the basic materials company’s stock, valued at approximately $3,433,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NEM. BlackRock Inc. acquired a new position in Newmont in the 2nd quarter valued at about $11,289,753,000. State Street Corp increased its stake in Newmont by 3.1% during the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock worth $4,893,852,000 after purchasing an additional 1,565,716 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Newmont during the second quarter worth about $671,197,000. Bank of New York Mellon Corp acquired a new stake in shares of Newmont during the second quarter worth about $1,219,505,000. Finally, First Eagle Investment Management LLC acquired a new stake in shares of Newmont during the second quarter worth about $241,820,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NEM shares. Jefferies Financial Group dropped their price objective on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a report on Monday, July 6th. Royal Bank Of Canada upped their target price on shares of Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Sanford C. Bernstein reduced their target price on shares of Newmont from $147.00 to $144.00 and set an “outperform” rating on the stock in a report on Wednesday, September 9th. Scotiabank increased their target price on shares of Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, TD raised their price target on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $133.92.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the transaction, the executive vice president owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. This trade represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares in the company, valued at $14,064,440. This trade represents a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,973 shares of company stock valued at $3,927,169 over the last three months. 0.06% of the stock is owned by corporate insiders.

Newmont Trading Up 0.2%

NEM opened at $117.09 on Thursday. Newmont Corporation has a one year low of $76.05 and a one year high of $135.29. The company has a market cap of $123.37 billion, a P/E ratio of 14.78, a PEG ratio of 2.16 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The business’s 50-day simple moving average is $122.06 and its 200-day simple moving average is $111.00.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%. During the same quarter last year, the company earned $1.43 EPS. As a group, equities research analysts expect that Newmont Corporation will post 9.04 EPS for the current fiscal year.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.