By otakuyassine3@gmail.com 
Choreo LLC decreased its holdings in shares of Newmont Co. (NYSE:NEM – Free Report) by 35.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,276 shares of the basic materials company’s stock after selling 7,305 shares during the quarter. Choreo LLC’s holdings in Newmont were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Heathbridge Capital Management Ltd. lifted its stake in shares of Newmont by 2.0% during the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings in shares of Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after buying an additional 200 shares during the period. Carmel Capital Partners LLC raised its holdings in shares of Newmont by 4.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after buying an additional 226 shares during the period. Good Life Advisors LLC lifted its position in Newmont by 4.6% during the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after acquiring an additional 229 shares in the last quarter. Finally, Studio Investment Management LLC boosted its holdings in Newmont by 29.4% in the 3rd quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 261 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on NEM. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Scotiabank cut their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.37.
Get Our Latest Analysis on NEM
Newmont Trading Down 2.1 %
Newmont stock opened at $45.51 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The firm’s 50-day moving average is $40.58 and its 200-day moving average is $46.50. The company has a market cap of $51.81 billion, a P/E ratio of -29.94, a PEG ratio of 0.38 and a beta of 0.52.
Insiders Place Their Bets
In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock valued at $1,166,843 over the last quarter. Insiders own 0.06% of the company’s stock.
Newmont Company Profile
Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.
See Also
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