Newmont Co. (NYSE:NEM) Shares Sold by Cromwell Holdings LLC

Cromwell Holdings LLC reduced its position in Newmont Co. (NYSE:NEM) by 72.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,066 shares of the basic materials company’s stock after selling 2,753 shares during the quarter. Cromwell Holdings LLC’s holdings in Newmont were worth $40,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. ING Groep NV boosted its holdings in shares of Newmont by 142.6% in the fourth quarter. ING Groep NV now owns 372,412 shares of the basic materials company’s stock valued at $13,861,000 after acquiring an additional 218,904 shares during the period. Boston Financial Mangement LLC boosted its holdings in shares of Newmont by 1.8% in the fourth quarter. Boston Financial Mangement LLC now owns 85,485 shares of the basic materials company’s stock valued at $3,182,000 after acquiring an additional 1,505 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of Newmont by 23.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 34,347 shares of the basic materials company’s stock valued at $1,278,000 after acquiring an additional 6,549 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Newmont by 13.0% in the fourth quarter. Handelsbanken Fonder AB now owns 476,414 shares of the basic materials company’s stock valued at $17,732,000 after acquiring an additional 54,667 shares during the period. Finally, Alberta Investment Management Corp boosted its holdings in shares of Newmont by 35.3% in the fourth quarter. Alberta Investment Management Corp now owns 341,601 shares of the basic materials company’s stock valued at $12,714,000 after acquiring an additional 89,201 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harry M. Iv Conger purchased 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average price of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now 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. Insiders sold a total of 28,154 shares of company stock worth $1,166,843 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NEM shares. Raymond James decreased their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Scotiabank decreased their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada increased their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. CLSA began coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. Finally, JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. One investment 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.37.

Newmont Trading Up 1.4 %

NYSE:NEM opened at $48.10 on Friday. The stock has a fifty day moving average price of $41.46 and a two-hundred day moving average price of $46.47. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. As a group, equities research analysts forecast that Newmont Co. will post 3.11 earnings per share for the current fiscal year.

About Newmont

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.