Princeton Global Asset Management LLC Sells 524 Shares of Newmont Co. (NYSE:NEM)

Princeton Global Asset Management LLC lessened its stake in shares of Newmont Co. (NYSE:NEM) by 26.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,426 shares of the basic materials company’s stock after selling 524 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Newmont were worth $53,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after buying an additional 326,243 shares during the period. FMR LLC raised its position in Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after purchasing an additional 1,226,697 shares during the last quarter. Swiss National Bank raised its position in Newmont by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock valued at $182,938,000 after purchasing an additional 9,500 shares during the last quarter. National Pension Service raised its position in Newmont by 27.9% in the 3rd quarter. National Pension Service now owns 2,533,077 shares of the basic materials company’s stock valued at $135,393,000 after purchasing an additional 552,698 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in 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 valued at $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 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 $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,077 shares of company stock valued at $563,080 over the last three months. Company insiders own 0.06% of the company’s stock.

Newmont Stock Up 0.9 %

Shares of Newmont stock opened at $43.11 on Tuesday. 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. The business has a fifty day simple moving average of $40.26 and a 200 day simple moving average of $46.61. The stock has a market cap of $49.07 billion, a PE ratio of -28.36, a price-to-earnings-growth ratio of 0.36 and a beta of 0.52.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Royal Bank of Canada cut their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. Finally, UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.44.

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.