Newmont Co. (NYSE:NEM) Shares Sold by KBC Group NV

KBC Group NV cut its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 238,501 shares of the basic materials company's stock after selling 59,763 shares during the quarter. KBC Group NV's holdings in Newmont were worth $8,877,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd increased its holdings in Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company's stock valued at $28,379,000 after buying an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company's stock worth $1,854,000 after purchasing an additional 18,722 shares during the last quarter. 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 purchasing an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. increased its stake 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 valued at $88,580,000 after purchasing an additional 865,213 shares during the last quarter. Finally, Red Cedar Investment Management LLC acquired a new stake in Newmont during the third quarter worth approximately $1,263,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NEM. Scotiabank lowered their target price on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a report on Tuesday, January 21st. UBS Group lowered Newmont from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Jefferies Financial Group lifted their price target on Newmont from $54.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Finally, CIBC downgraded Newmont from a "sector outperform" rating to a "neutral" rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and an average price target of $53.44.

Insider Activity

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of Newmont 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 $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares of the company's stock, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry M. Iv Conger purchased 9,498 shares of the business's stock in a transaction on Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 14,077 shares of company stock worth $563,080 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Shares of NEM traded up $1.55 on Thursday, reaching $43.14. The stock had a trading volume of 6,395,753 shares, compared to its average volume of 7,947,437. The firm has a 50-day moving average of $40.27 and a 200 day moving average of $46.69. 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 firm has a market capitalization of $49.11 billion, a PE ratio of -28.51, a PEG ratio of 0.33 and a beta of 0.50. Newmont Co. has a twelve month low of $29.42 and a twelve month 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.