Country Club Bank Raises Stake in Newmont Co. (NYSE:NEM)

Country Club Bank raised its holdings in Newmont Co. (NYSE:NEM) by 64.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 89,291 shares of the basic materials company’s stock after acquiring an additional 35,068 shares during the quarter. Country Club Bank’s holdings in Newmont were worth $3,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Newmont by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after acquiring an additional 326,243 shares in the last quarter. FMR LLC raised its holdings 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 valued at $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. Ninety One UK Ltd raised its holdings in shares of Newmont by 27.5% in the 4th quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock valued at $128,649,000 after acquiring an additional 744,718 shares in the last quarter. Swiss National Bank increased its position in shares of Newmont by 0.3% during the 3rd quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock valued at $182,938,000 after purchasing an additional 9,500 shares during the last quarter. Finally, National Pension Service increased 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 purchasing an additional 552,698 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NEM shares. Bernstein Bank increased their price objective on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group started coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective on the stock. Finally, 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. One investment 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.44.

Newmont Stock Performance

NYSE NEM opened at $43.37 on Wednesday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week 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 50 day simple moving average of $40.27 and a two-hundred day simple moving average of $46.58.

Insiders Place Their Bets

In other news, Director Harry M. Iv Conger bought 9,498 shares of the stock in a transaction dated 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 purchase, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Natascha Viljoen sold 9,000 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 $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is currently owned by company insiders.

Newmont Company 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.