Tobam Sells 99,256 Shares of Newmont Co. (NYSE:NEM)

Tobam cut its position in Newmont Co. (NYSE:NEM) by 64.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,674 shares of the basic materials company’s stock after selling 99,256 shares during the quarter. Tobam’s holdings in Newmont were worth $2,072,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NEM. Heathbridge Capital Management Ltd. raised its stake in Newmont by 2.0% in the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after acquiring an additional 200 shares during the period. E. Ohman J or Asset Management AB raised its position in shares of Newmont by 0.4% in the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock valued at $2,562,000 after purchasing an additional 200 shares during the period. Carmel Capital Partners LLC lifted its stake in shares of Newmont by 4.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after buying an additional 226 shares in the last quarter. Good Life Advisors LLC boosted its holdings in Newmont by 4.6% in the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after buying an additional 229 shares during the period. Finally, Studio Investment Management LLC grew its stake in Newmont by 29.4% in the 3rd quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after buying an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Royal Bank of Canada cut their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $53.44.

Newmont Stock Performance

Shares of NEM stock opened at $44.93 on Friday. The business has a 50-day moving average price of $40.35 and a two-hundred day moving average price of $46.54. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. 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 Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the transaction, the director now directly owns 49,993 shares of the company’s stock, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock worth $1,166,843 in the last quarter. 0.06% of the stock is owned by insiders.

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.