Newmont Co. (NYSE:NEM) Shares Purchased by Inlet Private Wealth LLC

Inlet Private Wealth LLC raised its position in Newmont Co. (NYSE:NEM) by 27.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 39,720 shares of the basic materials company’s stock after buying an additional 8,600 shares during the quarter. Inlet Private Wealth LLC’s holdings in Newmont were worth $1,478,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NEM. Geode Capital Management LLC boosted its position in shares of Newmont by 1.4% in the third quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock worth $1,253,457,000 after buying an additional 326,243 shares during the period. FMR LLC increased its position in shares of Newmont by 21.1% in the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after purchasing an additional 1,226,697 shares during the last quarter. Swiss National Bank increased its holdings in Newmont by 0.3% in the third quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock valued at $182,938,000 after buying an additional 9,500 shares during the last quarter. National Pension Service raised its position in shares of Newmont by 27.9% during the 3rd quarter. National Pension Service now owns 2,533,077 shares of the basic materials company’s stock valued at $135,393,000 after acquiring an additional 552,698 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Newmont by 173.0% during 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 purchasing an additional 1,578,545 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.9 %

Shares of NYSE:NEM opened at $42.71 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock’s 50-day moving average is $40.26 and its 200-day moving average is $46.63. The company has a market cap of $48.63 billion, a P/E ratio of -28.10, a P/E/G ratio of 0.35 and a beta of 0.50. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Insider Activity at Newmont

In other news, Director Harry M. Iv Conger purchased 9,498 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction 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 directly owns 82,596 shares of the company’s stock, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,077 shares of company stock worth $563,080 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. The Goldman Sachs Group assumed coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. Raymond James cut their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Finally, CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $53.44.

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.