R Squared Ltd Buys Shares of 5,730 Newmont Co. (NYSE:NEM)

R Squared Ltd purchased a new position in shares of Newmont Co. (NYSE:NEMFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,730 shares of the basic materials company’s stock, valued at approximately $213,000.

Other large investors have also made changes to their positions in the company. Zurich Insurance Group Ltd FI acquired a new position in shares of Newmont during the 3rd quarter worth $98,011,000. Nordea Investment Management AB grew its position in 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 acquiring an additional 1,578,545 shares during the last quarter. FMR LLC raised its stake in Newmont by 21.1% during the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Newmont by 262.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after acquiring an additional 1,096,905 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Newmont by 6,387.0% in the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after purchasing an additional 964,815 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, Director Harry M. Iv Conger acquired 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,077 shares of company stock worth $563,080 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Bernstein Bank increased their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Raymond James reduced their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.44.

Read Our Latest Stock Report on Newmont

Newmont Stock Performance

Shares of NEM opened at $41.36 on Wednesday. The firm’s fifty day simple moving average is $40.34 and its two-hundred day simple moving average is $46.77. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. 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 stock has a market capitalization of $47.08 billion, a P/E ratio of -27.21, a price-to-earnings-growth ratio of 0.33 and a beta of 0.50.

Newmont Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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