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