Foundry Partners LLC Has $8.54 Million Stake in Newmont Co. (NYSE:NEM)

Foundry Partners LLC boosted its position in shares of Newmont Co. (NYSE:NEMFree Report) by 41.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,158 shares of the basic materials company’s stock after buying an additional 67,856 shares during the period. Foundry Partners LLC’s holdings in Newmont were worth $8,541,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Ieq Capital LLC grew its stake in Newmont by 1.5% during the second quarter. Ieq Capital LLC now owns 17,051 shares of the basic materials company’s stock worth $727,000 after buying an additional 252 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Newmont by 25.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 278 shares in the last quarter. S.A. Mason LLC boosted its stake in shares of Newmont by 15.1% in the 3rd quarter. S.A. Mason LLC now owns 2,175 shares of the basic materials company’s stock valued at $80,000 after purchasing an additional 285 shares in the last quarter. Antonetti Capital Management LLC boosted its stake in shares of Newmont by 30.0% in the 3rd quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 300 shares in the last quarter. Finally, Smith Moore & CO. boosted its stake in shares of Newmont by 1.4% in the 1st quarter. Smith Moore & CO. now owns 21,317 shares of the basic materials company’s stock valued at $1,045,000 after purchasing an additional 302 shares in the last quarter. 79.53% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Up 0.5 %

Shares of NYSE NEM traded up $0.17 during mid-day trading on Monday, reaching $32.96. 2,193,030 shares of the company’s stock traded hands, compared to its average volume of 10,042,940. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.12 and a quick ratio of 1.72. The business has a 50-day simple moving average of $38.02 and a 200 day simple moving average of $38.44. The stock has a market cap of $26.20 billion, a P/E ratio of -31.83, a PEG ratio of 2.42 and a beta of 0.52. Newmont Co. has a 1-year low of $32.54 and a 1-year high of $52.76.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NEM shares. BMO Capital Markets reduced their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 17th. UBS Group reduced their price target on shares of Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 13th. Macquarie started coverage on shares of Newmont in a research note on Tuesday, November 21st. They issued an “outperform” rating and a $45.00 price target on the stock. National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a research note on Wednesday, January 3rd. Finally, Raymond James dropped their price objective on shares of Newmont from $59.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, October 27th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.76.

Get Our Latest Stock Analysis on NEM

Insider Buying and Selling

In related news, COO Robert D. Atkinson sold 5,500 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $41.26, for a total value of $226,930.00. Following the sale, the chief operating officer now owns 54,251 shares in the company, valued at approximately $2,238,396.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is currently owned by company insiders.

Newmont Company 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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