Newmont (NEM) Surges – What's Behind the Rise?

This afternoon we watched Newmont rise 5.3% to a price of $39.78 per share. The large-cap Silver company is now trading -44.82% below its average target price of $72.1. Analysts have set target prices ranging from $53.05 to $82.31 per share for Newmont, and have given the stock an average rating of hold.

Newmont's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 2.0%. The stock's short ratio is 1.11. The company's insiders own 0.11% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Another number to watch is the company's rate of institutional share ownership, which now stands at 58.4%. In conclusion, we believe there is mixed market sentiment regarding Newmont.

Institutions Invested in Newmont

Date Reported Holder Percentage Shares Value
2023-09-30 Blackrock Inc. 12% 92,824,554 $3,693,024,866
2023-09-30 Vanguard Group Inc 10% 82,578,928 $3,285,402,637
2023-09-30 State Street Corporation 5% 37,465,034 $1,490,546,371
2023-09-30 Van Eck Associates Corporation 4% 32,625,855 $1,298,019,636
2023-09-30 Deutsche Bank Aktiengesellschaft 2% 18,438,706 $733,583,915
2023-09-30 First Eagle Investment Management, LLC 2% 18,281,003 $727,309,701
2023-09-30 Charles Schwab Investment Management, Inc. 2% 17,003,452 $676,482,335
2023-09-30 Geode Capital Management, LLC 2% 14,863,767 $591,354,967
2023-09-30 Flossbach von Storch AG 2% 14,180,028 $564,152,411
2023-09-30 Morgan Stanley 1% 10,906,559 $433,917,448
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.