Stanley Laman Group Ltd. Buys 2,000 Shares of Newmont Co. (NYSE:NEM)

Stanley Laman Group Ltd. increased its stake in Newmont Co. (NYSE:NEM) by 40.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,000 shares of the basic materials company’s stock after acquiring an additional 2,000 shares during the period. Stanley Laman Group Ltd.’s holdings in Newmont were worth $261,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NEM. Zurich Insurance Group Ltd FI bought a new position in Newmont in the third quarter worth about $98,011,000. Nordea Investment Management AB raised its stake 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 worth $92,832,000 after buying an additional 1,578,545 shares in the last quarter. FMR LLC raised its stake in Newmont by 21.1% in the third 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 in the last quarter. Assenagon Asset Management S.A. grew its holdings in 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 purchasing an additional 1,096,905 shares during the period. Finally, International Assets Investment Management LLC grew 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 worth $52,377,000 after purchasing an additional 964,815 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is owned by insiders.

Newmont Trading Up 2.1 %

Shares of NEM stock opened at $47.79 on Friday. 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 firm’s 50 day moving average is $40.76 and its 200 day moving average is $46.50. The stock has a market capitalization of $54.40 billion, a P/E ratio of -31.44, a P/E/G ratio of 0.38 and a beta of 0.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NEM shares. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. CLSA started coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. The Goldman Sachs Group started coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada upped their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $53.37.

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.