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

Newmont stock is trading -47.62% below its average target price of $72.11 after dropping -2.8% during today's evening session. Analysts are giving the large-cap Silver company an average rating of hold and target prices ranging from $53.06 to $82.33 per share.

The stock has an average amount of shares sold short at 2.0%, and a short ratio of 1.11. 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 an average number of institutional investors are invested in the stock, with 58.3% of Newmont's shares being owned by this investor type.

Institutions Invested in Newmont

Date Reported Holder Percentage Shares Value
2023-09-30 Blackrock Inc. 12% 92,824,554 $3,505,983,447
2023-09-30 Vanguard Group Inc 10% 82,578,928 $3,119,006,148
2023-09-30 State Street Corporation 5% 37,465,034 $1,415,054,351
2023-09-30 Van Eck Associates Corporation 4% 32,625,855 $1,232,278,558
2023-09-30 Deutsche Bank Aktiengesellschaft 2% 18,438,706 $696,429,934
2023-09-30 First Eagle Investment Management, LLC 2% 18,281,003 $690,473,491
2023-09-30 Charles Schwab Investment Management, Inc. 2% 17,003,452 $642,220,389
2023-09-30 Geode Capital Management, LLC 2% 14,863,767 $561,404,486
2023-09-30 Flossbach von Storch AG 2% 14,180,028 $535,579,664
2023-09-30 Morgan Stanley 1% 10,906,559 $411,940,738

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.