Baader Bank Aktiengesellschaft Has $919,000 Stock Position in Newmont Co. (NYSE:NEM)

Baader Bank Aktiengesellschaft lessened its holdings in Newmont Co. (NYSE:NEM - Free Report) by 23.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,804 shares of the basic materials company's stock after selling 7,670 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Newmont were worth $919,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NEM. Waverton Investment Management Ltd boosted its holdings in shares of Newmont by 14.0% during 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 acquiring an additional 65,075 shares during the period. Sanctuary Advisors LLC boosted its holdings 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 shares of 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. Assenagon Asset Management S.A. boosted its holdings in shares of Newmont by 57.1% during 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 acquiring an additional 865,213 shares during the period. Finally, Red Cedar Investment Management LLC acquired a new position in shares of Newmont during the third quarter valued at $1,263,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Performance

Shares of NEM stock traded up $1.67 during trading hours on Thursday, reaching $43.26. 5,830,565 shares of the company's stock were exchanged, compared to its average volume of 7,913,047. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The stock has a market capitalization of $49.25 billion, a P/E ratio of -28.45, a P/E/G ratio of 0.33 and a beta of 0.50. The business has a fifty day moving average price of $40.27 and a 200-day moving average price 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.

Insider Transactions at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry M. Iv Conger purchased 9,498 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now owns 14,498 shares of the company's stock, valued at $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. 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 three months. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NEM has been the topic of a number of recent analyst reports. UBS Group cut shares of Newmont from a "buy" rating to a "neutral" rating and cut their price objective for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Bernstein Bank lifted their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Raymond James dropped their price target on shares of Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a research report on Monday, November 25th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research report on Monday, January 13th. They issued a "buy" rating and a $47.20 price target on the stock. Finally, CLSA initiated coverage on shares of Newmont in a research report on Friday, November 29th. They issued an "underperform" rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and an average price target of $53.44.

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.