Fifth Third Bancorp decreased its holdings in Newmont Co. (NYSE:NEM – Free Report) by 52.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,809 shares of the basic materials company’s stock after selling 37,858 shares during the period. Fifth Third Bancorp’s holdings in Newmont were worth $1,258,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Heathbridge Capital Management Ltd. lifted its holdings in shares of Newmont by 2.0% in the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after acquiring an additional 200 shares during the last quarter. E. Ohman J or Asset Management AB increased its position in Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after purchasing an additional 200 shares in the last quarter. Fulton Bank N.A. lifted its stake in Newmont by 1.5% in the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after purchasing an additional 221 shares during the last quarter. Carmel Capital Partners LLC boosted its position in Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after buying an additional 226 shares in the last quarter. Finally, Good Life Advisors LLC grew its stake in shares of Newmont by 4.6% during the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after buying an additional 229 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.
Newmont Stock Down 0.5 %
Shares of Newmont stock opened at $41.36 on Wednesday. The stock’s 50-day moving average is $40.34 and its 200 day moving average is $46.77. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The firm has a market cap of $47.08 billion, a price-to-earnings ratio of -27.21, a PEG ratio of 0.33 and a beta of 0.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.
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Analyst Ratings Changes
NEM has been the subject of a number of research reports. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Bernstein Bank lifted their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Raymond James lowered their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Scotiabank cut their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group assumed coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.44.
Get Our Latest Research Report on NEM
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.
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