Kentucky Retirement Systems Insurance Trust Fund Sells 16,341 Shares of Newmont Co. (NYSE:NEM)

Kentucky Retirement Systems Insurance Trust Fund reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 48.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,631 shares of the basic materials company’s stock after selling 16,341 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Newmont were worth $656,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NEM. Creative Planning lifted its position in Newmont by 23.4% during the third quarter. Creative Planning now owns 129,379 shares of the basic materials company’s stock worth $6,915,000 after acquiring an additional 24,536 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Newmont by 8.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 512,789 shares of the basic materials company’s stock worth $27,409,000 after purchasing an additional 39,045 shares during the period. Whittier Trust Co. lifted its holdings in Newmont by 3.0% during the 3rd quarter. Whittier Trust Co. now owns 15,040 shares of the basic materials company’s stock worth $804,000 after purchasing an additional 435 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Newmont by 35.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,382 shares of the basic materials company’s stock valued at $715,000 after purchasing an additional 3,498 shares during the period. Finally, Signaturefd LLC grew its holdings in Newmont by 3.5% in the 3rd quarter. Signaturefd LLC now owns 23,486 shares of the basic materials company’s stock valued at $1,255,000 after buying an additional 802 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NEM shares. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Scotiabank decreased their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Raymond James dropped their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, CLSA initiated coverage on Newmont in a 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 given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $53.37.

Insider Activity at Newmont

In other news, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction dated 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 acquisition, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,077 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 transaction of $83,080.00. Following the completion of the transaction, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock valued at $1,166,843 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Performance

Shares of Newmont stock opened at $47.42 on Thursday. The company’s 50 day moving average price is $41.33 and its two-hundred day moving average price is $46.46. The firm has a market capitalization of $53.99 billion, a P/E ratio of -31.20, a P/E/G ratio of 0.39 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

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.