Newmont Co. (NYSE:NEM) Shares Purchased by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC increased its holdings in shares of Newmont Co. (NYSE:NEM) by 63.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 22,942 shares of the basic materials company’s stock after buying an additional 8,913 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Newmont were worth $854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of NEM. Zurich Insurance Group Ltd FI acquired a new stake in Newmont during the third quarter worth about $98,011,000. Nordea Investment Management AB grew its position in Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. FMR LLC grew its position in Newmont by 21.1% in 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 last quarter. Assenagon Asset Management S.A. grew its position in Newmont by 262.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after purchasing an additional 1,096,905 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position 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 worth $52,377,000 after purchasing an additional 964,815 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Down 0.1 %

Shares of NYSE:NEM opened at $44.85 on Friday. The stock has a market capitalization of $51.06 billion, a price-to-earnings ratio of -29.51, a PEG ratio of 0.36 and a beta of 0.52. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company has a 50 day moving average price of $40.41 and a 200 day moving average price of $46.53.

Analysts Set New Price Targets

NEM has been the subject of several recent analyst reports. Royal Bank of Canada decreased their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” 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 for the company in a research report on Tuesday, January 21st. Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.44.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the company’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 $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average price of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 28,154 shares of company stock worth $1,166,843. Corporate insiders own 0.06% of the company’s stock.

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.