Investors Are Bailing Out of Newmont (NEM). Here's Why.

This afternoon we watched Newmont drop -4.0% to a price of $36.92 per share. The large-cap Silver company is now trading -51.36% below its average target price of $75.9. Analysts have set target prices ranging from $51.15 to $94.09 per share for Newmont, and have given the stock an average rating of hold.

The stock has an average amount of shares sold short at 4.8%, and a short ratio of 3.13. The company's insiders own 0.11% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 82.1% of Newmont's shares being owned by this investor type.

Institutions Invested in Newmont

Date Reported Holder Percentage Shares Value
2023-06-30 Blackrock Inc. 13% 99,433,731 $3,671,093,166
2023-06-30 Vanguard Group Inc 9% 70,218,153 $2,592,454,080
2023-06-30 State Street Corporation 5% 40,353,343 $1,489,845,349
2023-06-30 Van Eck Associates Corporation 4% 33,368,384 $1,231,960,676
2023-06-30 Deutsche Bank Aktiengesellschaft 2% 18,903,184 $697,905,518
2023-06-30 First Eagle Investment Management, LLC 2% 18,452,280 $681,258,143
2023-06-30 Charles Schwab Investment Management, Inc. 2% 16,520,075 $609,921,138
2023-06-30 Geode Capital Management, LLC 2% 14,610,735 $539,428,309
2023-06-30 Flossbach von Storch AG 2% 14,296,942 $527,843,072
2023-06-30 Morgan Stanley 2% 12,718,062 $469,550,825

Besides an analyst consensus of strong upside potential, other market factors point to there being mixed market sentiment on Newmont.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.