This morning we watched Newmont drop -3.2% to a price of $40.22 per share. The Large-Cap Silver company is now trading -27.36% below its average target price of $55.37. Analysts have set target prices ranging from $45.0 to $71.26 per share for Newmont, and have given the stock an average rating of buy.
The stock has a very low short interest at 1.9%, and a short ratio of 1.45. At 0.09%, 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 74.1% of Newmont's shares being owned by this investor type.
Institutions Invested in Newmont
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-09-30 | Vanguard Group Inc | 12% | 135,641,786 | $5,455,512,798 |
| 2024-09-30 | Blackrock Inc. | 11% | 120,300,644 | $4,838,492,048 |
| 2024-09-30 | Van Eck Associates Corporation | 4% | 48,950,153 | $1,968,775,213 |
| 2024-09-30 | State Street Corporation | 4% | 48,821,075 | $1,963,583,696 |
| 2024-09-30 | Geode Capital Management, LLC | 2% | 23,484,382 | $944,541,872 |
| 2024-09-30 | First Eagle Investment Management, LLC | 2% | 18,645,971 | $749,940,976 |
| 2024-06-30 | Norges Bank Investment Management | 1% | 16,587,209 | $667,137,566 |
| 2024-09-30 | Bank Of New York Mellon Corporation | 1% | 16,486,315 | $663,079,609 |
| 2024-09-30 | Deutsche Bank Aktiengesellschaft | 1% | 15,441,868 | $621,071,949 |
| 2024-09-30 | Morgan Stanley | 1% | 11,802,690 | $474,704,206 |
Besides an analyst consensus of strong upside potential, other market factors point to there being mixed market sentiment on Newmont.
