Deane Retirement Strategies Inc. Invests $4.82 Million in Newmont Co. (NYSE:NEM)

Deane Retirement Strategies Inc. bought a new stake in shares of Newmont Co. (NYSE:NEM) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 129,433 shares of the basic materials company’s stock, valued at approximately $4,817,000. Newmont accounts for 2.4% of Deane Retirement Strategies Inc.’s holdings, making the stock its 10th largest position.

A number of other large investors also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board grew its position in shares of Newmont by 73.8% during the second quarter. Public Sector Pension Investment Board now owns 44,338 shares of the basic materials company’s stock valued at $1,856,000 after purchasing an additional 18,823 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Newmont by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 861,416 shares of the basic materials company’s stock valued at $36,067,000 after buying an additional 14,455 shares in the last quarter. Mackenzie Financial Corp increased its stake in Newmont by 9.1% in the 2nd quarter. Mackenzie Financial Corp now owns 189,912 shares of the basic materials company’s stock worth $7,952,000 after acquiring an additional 15,860 shares during the last quarter. Creative Planning increased its stake in Newmont by 35.9% in the 2nd quarter. Creative Planning now owns 104,843 shares of the basic materials company’s stock worth $4,390,000 after acquiring an additional 27,722 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Newmont by 3.8% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 100,884 shares of the basic materials company’s stock valued at $4,224,000 after acquiring an additional 3,653 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Down 0.5 %

NEM stock opened at $41.36 on Wednesday. The company has a market capitalization of $47.08 billion, a PE ratio of -27.21, a P/E/G ratio of 0.33 and a beta of 0.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The firm’s 50-day moving average is $40.34 and its 200 day moving average is $46.77.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Jefferies Financial Group upped their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. CLSA began coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. Scotiabank decreased their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Finally, Raymond James lowered their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Insider Transactions at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 14,077 shares of company stock valued at $563,080. 0.06% of the stock is currently owned by company 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.