Pathstone Family Office LLC Has $1.63 Million Position in Newmont Co. (NYSE:NEM)

Pathstone Family Office LLC grew its position in Newmont Co. (NYSE:NEMFree Report) by 448.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 44,191 shares of the basic materials company’s stock after purchasing an additional 36,131 shares during the quarter. Pathstone Family Office LLC’s holdings in Newmont were worth $1,634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Newmont by 4.6% in the 2nd quarter. BlackRock Inc. now owns 99,433,731 shares of the basic materials company’s stock valued at $4,241,843,000 after buying an additional 4,409,771 shares in the last quarter. State Street Corp increased its position in Newmont by 0.3% during the 2nd quarter. State Street Corp now owns 40,353,343 shares of the basic materials company’s stock worth $1,721,474,000 after purchasing an additional 121,393 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Newmont by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,003,452 shares of the basic materials company’s stock worth $628,278,000 after purchasing an additional 483,377 shares in the last quarter. Geode Capital Management LLC increased its position in Newmont by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 14,610,735 shares of the basic materials company’s stock worth $622,663,000 after purchasing an additional 321,030 shares in the last quarter. Finally, Flossbach Von Storch AG increased its position in Newmont by 2.9% during the 2nd quarter. Flossbach Von Storch AG now owns 14,296,942 shares of the basic materials company’s stock worth $609,908,000 after purchasing an additional 404,403 shares in the last quarter. 79.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NEM. Macquarie began coverage on shares of Newmont in a research report on Tuesday, November 21st. They set an “outperform” rating and a $45.00 price objective for the company. BMO Capital Markets lowered their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Wednesday, January 17th. Raymond James lowered their price objective on shares of Newmont from $59.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Royal Bank of Canada lowered their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday. Finally, UBS Group decreased their price target on shares of Newmont from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, December 13th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.76.

View Our Latest Stock Report on NEM

Insider Activity

In other news, COO Robert D. Atkinson sold 5,500 shares of the company’s stock in a transaction on 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 directly owns 54,251 shares of the company’s stock, valued at approximately $2,238,396.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.07% of the company’s stock.

Newmont Trading Down 1.6 %

NYSE:NEM opened at $32.79 on Monday. The firm’s fifty day moving average is $38.02 and its 200-day moving average is $38.44. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 2.12. Newmont Co. has a 52 week low of $32.54 and a 52 week high of $52.76. The firm has a market cap of $26.06 billion, a P/E ratio of -31.83, a P/E/G ratio of 2.42 and a beta of 0.52.

Newmont 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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