Understanding the Reasons Behind NEM's Decline

By Chris Stiles • Friday, February 23 09:48 • Permanent Link

This morning we watched Newmont drop -1.1% to a price of $30.55 per share. The Large-Cap Silver company is now trading -55.15% below its average target price of $68.12. Analysts have set target prices ranging from $58.06 to $82.35 per share for Newmont, and have given the stock an average rating of buy.

The stock has a very low short interest at 1.8%, and a short ratio of 1.88. At 0.1%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation. Finally, we also note that an average number of institutional investors are invested in the stock, with 71.6% of Newmont's shares being owned by this investor type.

Institutions Invested in Newmont

Date Reported	Holder	Percentage	Shares	Value
2023-12-31	Blackrock Inc.	15%	119,116,634	$3,639,608,788
2023-12-31	Vanguard Group Inc	15%	118,749,913	$3,628,403,627
2023-12-31	Van Eck Associates Corporation	6%	51,290,469	$1,567,180,295
2023-12-31	State Street Corporation	6%	50,628,273	$1,546,946,896
2023-12-31	Charles Schwab Investment Management, Inc.	3%	24,639,109	$752,847,983
2023-12-31	First Eagle Investment Management, LLC	3%	23,756,158	$725,869,414
2023-12-31	Geode Capital Management, LLC	3%	21,704,341	$663,176,145
2023-12-31	Deutsche Bank Aktiengesellschaft	2%	18,760,234	$573,218,955
2023-12-31	Bank Of New York Mellon Corporation	2%	16,607,005	$507,427,042
2023-12-31	Norges Bank Investment Management	2%	14,604,963	$446,254,648

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.