Commerzbank Aktiengesellschaft FI Has $19.02 Million Holdings in Newmont Co. (NYSE:NEM)

Commerzbank Aktiengesellschaft FI lessened its position in Newmont Co. (NYSE:NEM) by 24.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 355,864 shares of the basic materials company’s stock after selling 115,221 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Newmont were worth $19,021,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of Newmont in the third quarter valued at approximately $202,000. Signaturefd LLC lifted its holdings in shares of Newmont by 3.5% in the third quarter. Signaturefd LLC now owns 23,486 shares of the basic materials company’s stock valued at $1,255,000 after purchasing an additional 802 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Newmont by 35.4% in the third quarter. Sequoia Financial Advisors LLC now owns 13,382 shares of the basic materials company’s stock valued at $715,000 after purchasing an additional 3,498 shares in the last quarter. Cetera Trust Company N.A bought a new position in shares of Newmont in the third quarter valued at approximately $705,000. Finally, Whittier Trust Co. lifted its holdings in shares of Newmont by 3.0% in the third quarter. Whittier Trust Co. now owns 15,040 shares of the basic materials company’s stock valued at $804,000 after purchasing an additional 435 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $161,430.00. Following the completion of the transaction, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,000 shares of company stock worth $3,434,640. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Performance

Shares of NEM opened at $58.16 on Wednesday. The firm has a market cap of $67.07 billion, a PE ratio of -21.98, a PEG ratio of 0.43 and a beta of 0.50. The stock’s fifty day moving average price is $53.25 and its two-hundred day moving average price is $46.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business’s revenue was up 64.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. On average, equities research analysts forecast that Newmont Co. will post 3.1 EPS for the current year.

Analyst Ratings Changes

NEM has been the topic of a number of recent research reports. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. CIBC upgraded Newmont from a “neutral” rating to a “sector outperform” rating and lifted their price target for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. Finally, BMO Capital Markets lifted their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.46.

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.