Rhumbline Advisers Sells 66,242 Shares of Newmont Co. (NYSE:NEM)

Rhumbline Advisers lessened its holdings in shares of Newmont Co. (NYSE:NEM - Free Report) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,930,594 shares of the basic materials company's stock after selling 66,242 shares during the quarter. Rhumbline Advisers owned 0.17% of Newmont worth $71,857,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Avior Wealth Management LLC increased its holdings in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock worth $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Newmont during the third quarter worth about $28,000. Highline Wealth Partners LLC bought a new position in shares of Newmont during the third quarter worth about $32,000. HHM Wealth Advisors LLC raised its position in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock valued at $33,000 after buying an additional 350 shares during the last quarter. Finally, McIlrath & Eck LLC raised its position in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock valued at $43,000 after buying an additional 361 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 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 $83,080.00. Following the transaction, the director now owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harry M. Iv Conger bought 9,498 shares of Newmont stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following 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 position. The disclosure for this purchase can be found here. Insiders sold 28,154 shares of company stock worth $1,166,843 over the last three months. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NEM shares. Bernstein Bank raised their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They issued an "underperform" rating for the company. Royal Bank of Canada lifted their price target on shares of Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. Raymond James reduced their price objective on shares of Newmont from $62.00 to $59.00 and set an "outperform" rating for the company in a research note on Monday, November 25th. Finally, Scotiabank decreased their price objective on Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average price target of $53.37.

Newmont Stock Performance

NEM traded up $0.69 during trading hours on Thursday, reaching $48.10. The company's stock had a trading volume of 13,572,647 shares, compared to its average volume of 9,208,329. 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's 50-day moving average is $41.33 and its 200-day moving average is $46.46. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The firm has a market cap of $54.75 billion, a PE ratio of -31.64, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.29. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. On average, equities analysts forecast that Newmont Co. will post 3.11 EPS for the current year.

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.