Newmont Co. (NYSE:NEM) Holdings Reduced by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its holdings in shares of Newmont Co. (NYSE:NEM) by 87.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,449 shares of the basic materials company’s stock after selling 331,706 shares during the period. DAVENPORT & Co LLC’s holdings in Newmont were worth $1,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Waverton Investment Management Ltd boosted its position in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after acquiring an additional 65,075 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after acquiring an additional 18,722 shares during the period. Nordea Investment Management AB lifted its stake in shares of Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after acquiring an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after acquiring an additional 865,213 shares in the last quarter. Finally, Red Cedar Investment Management LLC acquired a new position in shares of Newmont during the third quarter valued at approximately $1,263,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry M. Iv Conger bought 9,498 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is owned by insiders.

Newmont Trading Up 3.8 %

Shares of NYSE NEM opened at $44.98 on Thursday. The firm has a market capitalization of $51.21 billion, a PE ratio of -29.59, a PEG ratio of 0.36 and a beta of 0.52. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $40.29 and a two-hundred day moving average price of $46.55. Newmont Co. has a one year low of $29.42 and a one year high of $58.72.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Raymond James decreased their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. The Goldman Sachs Group started 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. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, UBS Group lowered shares of 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 note on Wednesday, October 30th. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.44.

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.