Newmont Co. (NYSE:NEM) Shares Sold by Maj Invest Holding A S

Maj Invest Holding A S trimmed its position in shares of Newmont Co. (NYSE:NEM) by 13.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,928,778 shares of the basic materials company’s stock after selling 452,968 shares during the quarter. Newmont makes up about 3.6% of Maj Invest Holding A S’s portfolio, making the stock its 16th biggest holding. Maj Invest Holding A S owned 0.26% of Newmont worth $109,008,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Waverton Investment Management Ltd boosted its stake in shares of Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after acquiring an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Newmont by 117.3% during 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 during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after acquiring an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Newmont by 57.1% in the fourth 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 acquired a new position in shares of Newmont in the third quarter valued at approximately $1,263,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Up 0.2 %

Shares of NEM stock opened at $42.05 on Monday. The firm has a fifty day moving average of $40.35 and a 200-day moving average of $46.80. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Analysts Set New Price Targets

NEM has been the subject of several research analyst reports. Raymond James lowered their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. UBS Group downgraded 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. CLSA started coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Finally, The Goldman Sachs Group began coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $53.44.

Insider Activity

In other news, Director Harry M. Iv Conger purchased 9,498 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, January 10th. The shares were 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,077 shares of company stock valued at $563,080. 0.06% of the stock is owned by insiders.

Newmont 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.