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.
