Newmont Co. (NYSE:NEM) Shares Bought by Inlet Private Wealth LLC

Inlet Private Wealth LLC grew its holdings in Newmont Co. (NYSE:NEM) by 27.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,720 shares of the basic materials company’s stock after buying an additional 8,600 shares during the period. Inlet Private Wealth LLC’s holdings in Newmont were worth $1,478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of NEM. Zurich Insurance Group Ltd FI acquired a new position in Newmont during the third quarter worth $98,011,000. Nordea Investment Management AB grew its holdings in shares of Newmont by 173.0% in the fourth 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 period. FMR LLC increased its holdings in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after buying an additional 1,226,697 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Newmont by 262.6% during 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 buying an additional 1,096,905 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Newmont by 6,387.0% in the third quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after acquiring an additional 964,815 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In related news, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction dated Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock worth $563,080 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $42.71 on Friday. 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 52-week low of $29.42 and a 52-week high of $58.72. The stock has a 50 day moving average price of $40.26 and a 200 day moving average price of $46.63. The company has a market capitalization of $48.63 billion, a price-to-earnings ratio of -28.10, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50.

Analyst Upgrades and Downgrades

NEM has been the topic of several research analyst reports. CLSA began coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and cut their target price for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. 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. Finally, Raymond James lowered their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

About Newmont

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.