Newmont Co. (NYSE:NEM) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its position in Newmont Co. (NYSE:NEM) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,344 shares of the basic materials company’s stock after selling 2,069 shares during the quarter. Hartford Investment Management Co.’s holdings in Newmont were worth $2,618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NEM. Zurich Insurance Group Ltd FI acquired a new stake in shares of Newmont in the 3rd quarter valued at $98,011,000. Nordea Investment Management AB raised 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 valued at $92,832,000 after purchasing an additional 1,578,545 shares in the last quarter. FMR LLC raised its holdings in shares of 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 in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Newmont by 262.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock valued at $80,960,000 after purchasing an additional 1,096,905 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Newmont by 6,387.0% during the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock worth $52,377,000 after acquiring an additional 964,815 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on NEM shares. Scotiabank cut their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada lifted their price target on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. Finally, UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and cut their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.37.

Insider Activity

In other news, Director Harry M. Iv Conger bought 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The shares were acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock valued at $1,166,843 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Newmont Trading Up 2.9 %

Shares of NYSE:NEM opened at $46.83 on Thursday. The firm’s 50-day simple moving average is $40.66 and its 200-day simple moving average is $46.49. 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 fifty-two week low of $29.42 and a fifty-two week high of $58.72.

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.