Newmont Corporation Investment
Fisher Asset Management LLC has invested $433,000 in Newmont Corporation, a leading global gold mining company. This investment is a significant development in the gold mining industry.
Investment Overview
The investment in Newmont Corporation is a strategic move by Fisher Asset Management LLC. The company has a strong track record of producing gold and other byproduct metals.
Other hedge funds and institutional investors have also invested in Newmont Corporation. Brighton Jones LLC, Woodline Partners LP, and Sivia Capital Partners LLC are some of the notable investors.
Market Performance
Newmont Corporation’s stock has performed well in recent times. The company’s shares opened at $116.37 on Monday, with a 1-year low of $42.03 and a 1-year high of $134.88.
The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29, and a quick ratio of 2.02. The stock’s 50-day moving average price is $117.25, and its 200-day moving average price is $97.14.
Dividend and Analyst Ratings
Newmont Corporation has announced a quarterly dividend of $0.26 per share, which is a boost from the previous quarterly dividend of $0.25.
Several analysts have commented on the company, with Raymond James Financial increasing their price objective from $111.00 to $130.00 and giving the stock an ‘outperform’ rating.
Canaccord Genuity Group upped their price target from $115.00 to $140.00 and gave the stock a ‘buy’ rating.
Conclusion
In conclusion, the investment in Newmont Corporation by Fisher Asset Management LLC is a significant development in the gold mining industry. The company’s strong track record and positive analyst ratings make it an attractive investment opportunity.
However, it is essential to conduct thorough research and consider multiple factors before making any investment decisions.
Therefore, investors should stay informed about the latest developments and trends in the gold mining industry to make informed investment decisions.
