CIBC Asset Management Inc Acquires 5,598 Shares of Newmont Co. (NYSE:NEM)

CIBC Asset Management Inc grew its holdings in shares of Newmont Co. (NYSE:NEM) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 245,984 shares of the basic materials company’s stock after acquiring an additional 5,598 shares during the period. CIBC Asset Management Inc’s holdings in Newmont were worth $9,155,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Lee Financial Co raised its stake in Newmont by 1.3% during the fourth quarter. Lee Financial Co now owns 31,744 shares of the basic materials company’s stock worth $1,182,000 after buying an additional 407 shares during the last quarter. Hourglass Capital LLC raised its stake in Newmont by 26.6% during the fourth quarter. Hourglass Capital LLC now owns 227,040 shares of the basic materials company’s stock worth $8,450,000 after buying an additional 47,635 shares during the last quarter. Secured Retirement Advisors LLC bought a new position in Newmont during the fourth quarter worth $2,158,000. Strategic Financial Concepts LLC bought a new position in Newmont during the fourth quarter worth $1,624,000. Finally, Principal Securities Inc. increased its stake in Newmont by 196.9% in the fourth quarter. Principal Securities Inc. now owns 5,750 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 3,813 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the sale, the chief operating officer now owns 136,967 shares of the company’s stock, valued at approximately $5,874,514.63. This represents a 6.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $128,670.00. Following the completion of the sale, the executive vice president now directly owns 79,596 shares of the company’s stock, valued at $3,413,872.44. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,154 shares of company stock valued at $1,166,843 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Bernstein Bank boosted their price target on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, The Goldman Sachs Group initiated 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.37.

Newmont Price Performance

NEM stock opened at $47.53 on Wednesday. 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 one year low of $29.42 and a one year high of $58.72. The stock has a market cap of $54.10 billion, a PE ratio of -31.27, a P/E/G ratio of 0.38 and a beta of 0.52. The firm has a 50 day simple moving average of $41.11 and a two-hundred day simple moving average of $46.46.

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.