Rhumbline Advisers Reduces Stock Position in Newmont Co. (NYSE:NEM)

Rhumbline Advisers lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,930,594 shares of the basic materials company’s stock after selling 66,242 shares during the quarter. Rhumbline Advisers owned 0.17% of Newmont worth $71,857,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NEM. Avior Wealth Management LLC raised its position in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Newmont in the 3rd quarter worth $28,000. Highline Wealth Partners LLC bought a new position in shares of Newmont in the 3rd quarter worth $32,000. HHM Wealth Advisors LLC increased its position in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares in the last quarter. Finally, McIlrath & Eck LLC increased its position 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 buying an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NEM shares. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Raymond James lowered their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. CLSA started coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. Finally, Bernstein Bank increased their target price on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.37.

Insider Transactions at Newmont

In other news, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares in the company, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the transaction, the executive vice president now owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,154 shares of company stock worth $1,166,843 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Newmont Trading Down 2.4 %

Shares of Newmont stock opened at $46.61 on Monday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The stock has a 50 day moving average of $41.01 and a 200 day moving average of $46.50. The firm has a market capitalization of $53.06 billion, a price-to-earnings ratio of -30.66, a PEG ratio of 0.38 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

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.