Newmont Co. (NYSE:NEM) Shares Purchased by ING Groep NV

ING Groep NV raised its holdings in Newmont Co. (NYSE:NEM) by 142.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 372,412 shares of the basic materials company’s stock after purchasing an additional 218,904 shares during the period. ING Groep NV’s holdings in Newmont were worth $13,861,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NEM. Avior Wealth Management LLC grew its holdings in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new stake in Newmont in the third quarter valued at approximately $28,000. Highline Wealth Partners LLC acquired a new stake in Newmont in the third quarter valued at approximately $32,000. HHM Wealth Advisors LLC grew its holdings in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares during the period. Finally, McIlrath & Eck LLC grew its holdings in Newmont by 80.6% in the third 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 period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the sale, the director now owns 49,993 shares of the company’s stock, valued at $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry M. Iv Conger bought 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following the purchase, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. The trade was 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 valued at $1,166,843 over the last quarter. 0.06% of the stock is owned by insiders.

Newmont Price Performance

NEM stock opened at $48.10 on Friday. The business has a fifty day moving average of $41.46 and a two-hundred day moving average of $46.47. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a market cap of $54.75 billion, a price-to-earnings ratio of -31.64, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last posted its earnings results 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, research analysts anticipate that Newmont Co. will post 3.11 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on NEM. Royal Bank of Canada raised their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, Scotiabank decreased their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $53.37.

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.