Patriot Financial Group Insurance Agency LLC Cuts Stock Position in Newmont Co. (NYSE:NEM)

Patriot Financial Group Insurance Agency LLC decreased its holdings in Newmont Co. (NYSE:NEM) by 15.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,418 shares of the basic materials company’s stock after selling 6,747 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Newmont were worth $1,393,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Zurich Insurance Group Ltd FI purchased a new position in Newmont during the 3rd quarter valued at about $98,011,000. Nordea Investment Management AB grew its position in 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 valued at $92,832,000 after acquiring an additional 1,578,545 shares during the period. FMR LLC grew its holdings in shares of Newmont by 21.1% during 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 period. Assenagon Asset Management S.A. increased its position in shares of Newmont by 262.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after acquiring an additional 1,096,905 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Newmont by 6,387.0% in the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after purchasing an additional 964,815 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of several research analyst reports. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Scotiabank dropped their price target 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. CLSA initiated coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. Bernstein Bank boosted their price target on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, The Goldman Sachs Group started coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. One equities research 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 company’s stock. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $53.44.

Newmont Stock Performance

Shares of NYSE NEM opened at $41.56 on Tuesday. The stock’s fifty day moving average price is $40.35 and its two-hundred day moving average price is $46.81. The firm has a market cap of $47.31 billion, a price-to-earnings ratio of -27.31, a P/E/G ratio of 0.33 and a beta of 0.50. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Insider Transactions at Newmont

In other news, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 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. Over the last ninety days, insiders have sold 14,077 shares of company stock valued at $563,080. 0.06% of the stock is currently owned by company insiders.

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.