Swedbank AB Has $28.62 Million Holdings in Newmont Co. (NYSE:NEM)

Swedbank AB lifted its stake in shares of Newmont Co. (NYSE:NEM) by 1.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 768,848 shares of the basic materials company’s stock after buying an additional 12,608 shares during the period. Swedbank AB’s holdings in Newmont were worth $28,617,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NEM. Waverton Investment Management Ltd lifted its holdings in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after buying an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after acquiring an additional 18,722 shares during the period. Nordea Investment Management AB boosted its holdings in Newmont by 173.0% in 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 last quarter. Assenagon Asset Management S.A. increased its position in Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after purchasing an additional 865,213 shares during the period. Finally, Red Cedar Investment Management LLC bought a new stake in Newmont during the 3rd quarter worth about $1,263,000. 68.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NEM. Royal Bank of Canada reduced their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. Bernstein Bank increased their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, Jefferies Financial Group increased their target price on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.44.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock valued at $563,080 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Up 3.7 %

Shares of NYSE:NEM opened at $43.11 on Friday. The firm has a market cap of $49.08 billion, a price-to-earnings ratio of -28.36, a PEG ratio of 0.33 and a beta of 0.50. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The company’s fifty day simple moving average is $40.27 and its 200 day simple moving average is $46.69.

About Newmont

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.