On October 30, 2024, UBS revised its assessment of Newmont (BRSE:NEM), changing its rating from Buy to Neutral.
Current Investor Sentiment
As of now, 1,894 funds or institutions report holding positions in Newmont, reflecting an increase of 59 holders, or 3.22%, in just the last quarter. The average portfolio weight of all funds invested in NEM stands at 0.44%, which is a notable increase of 14.17%. In the past three months, the number of shares owned by institutions rose by 5.66%, totaling 928,594K shares.
Institutional Investor Movements
Among significant shareholders, Van Eck Associates holds 48,950K shares, translating to 4.30% ownership of Newmont. This is down from 50,918K shares previously, indicating a decrease of 4.02%. However, the firm has boosted its portfolio allocation to NEM by 4.77% over the previous quarter.
Another notable investor, GDX – VanEck Vectors Gold Miners ETF, owns 43,624K shares, accounting for 3.83% of the company. This marks an increase from 42,864K shares, representing a rise of 1.74%. The fund increased its portfolio stake in NEM by a significant 21.08% last quarter.
The VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 36,485K shares, or 3.20%. This is an increase from 36,275K shares, up by 0.58%. Its allocation to NEM saw a growth of 14.26% in the last quarter.
Similarly, VFINX – Vanguard 500 Index Fund Investor Shares owns 29,595K shares, reflecting 2.60% ownership. This is a slight uptick from 29,044K shares, showing an increase of 1.86%. The fund also raised its portfolio allocation in NEM by 12.69% during the past quarter.
Lastly, VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 24,702K shares, representing 2.17% ownership. This is a small drop from 25,041K shares, indicating a decrease of 1.37%. Nevertheless, it has increased its allocation to NEM by 18.97% over the last three months.
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This article originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
