Newmont Co. (NYSE:NEM) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden grew its stake in shares of Newmont Co. (NYSE:NEM) by 1.3% in the 4th quarter, HoldingsChannel reports. The firm owned 239,400 shares of the basic materials company’s stock after acquiring an additional 3,000 shares during the quarter. Forsta AP Fonden’s holdings in Newmont were worth $8,910,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NEM. Hoese & Co LLP acquired a new position in shares of Newmont in the third quarter worth about $27,000. Avior Wealth Management LLC lifted its position in shares of Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Newmont in the 3rd quarter worth approximately $28,000. Highline Wealth Partners LLC purchased a new position in Newmont during the 3rd quarter worth approximately $32,000. Finally, McIlrath & Eck LLC raised its stake in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $43.11 on Friday. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72. The company has a market cap of $49.08 billion, a price-to-earnings ratio of -28.36, a PEG ratio of 0.33 and a beta of 0.50. The firm’s 50-day moving average is $40.27 and its 200-day moving average is $46.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Wall Street Analyst Weigh In

NEM has been the subject of several recent analyst reports. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. CLSA assumed coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. Finally, JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.44.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was 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 $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,077 shares of company stock valued at $563,080 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Newmont Company 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.