Asset Management One Co. Ltd. Grows Stock Holdings in Newmont Co. (NYSE:NEM)

Asset Management One Co. Ltd. grew its stake in Newmont Co. (NYSE:NEM) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 554,054 shares of the basic materials company’s stock after purchasing an additional 15,574 shares during the period. Asset Management One Co. Ltd.’s holdings in Newmont were worth $20,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC increased its stake in shares of Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 326 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Newmont during the third quarter worth about $28,000. Highline Wealth Partners LLC purchased a new position in Newmont during the third quarter worth about $32,000. McIlrath & Eck LLC boosted its holdings in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

NEM stock opened at $46.61 on Friday. The business’s 50-day moving average is $41.01 and its two-hundred day moving average is $46.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a market capitalization of $53.06 billion, a P/E ratio of -30.66, a P/E/G ratio of 0.38 and a beta of 0.52. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72.

Analyst Ratings Changes

A number of research analysts recently commented on NEM shares. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. CLSA assumed coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. Royal Bank of Canada boosted their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.37.

Insider Buying and Selling

In other Newmont news, Director Harry M. Iv Conger purchased 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now directly owns 14,498 shares in the company, valued at approximately $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the transaction, the director now directly owns 49,993 shares of the company’s stock, valued at approximately $2,144,199.77. This represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,154 shares of company stock worth $1,166,843. Company insiders own 0.06% of the company’s stock.

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.