Euro Pacific Asset Management LLC Sells 3,506 Shares of Newmont Co. (NYSE:NEM)

Euro Pacific Asset Management LLC decreased its stake in Newmont Co. (NYSE:NEM) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 352,630 shares of the basic materials company’s stock after selling 3,506 shares during the period. Newmont comprises about 2.9% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its 12th biggest position. Euro Pacific Asset Management LLC’s holdings in Newmont were worth $13,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Waverton Investment Management Ltd increased its stake in Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock valued at $28,379,000 after acquiring an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 18,722 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Newmont by 57.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after buying an additional 865,213 shares in the last quarter. Finally, Red Cedar Investment Management LLC bought a new stake in Newmont in the 3rd quarter worth approximately $1,263,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

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 completion of the transaction, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were acquired at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 14,077 shares of company stock valued at $563,080. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of a number of recent research reports. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Scotiabank cut their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, CLSA initiated coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.44.

Newmont Stock Up 0.2 %

NYSE:NEM opened at $42.05 on Friday. The company has a 50-day moving average price of $40.33 and a 200-day moving average price of $46.79. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 84.7% on a year-over-year basis. On average, research analysts expect that Newmont Co. will post 3.07 earnings per share for the current year.

About Newmont

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.