Financial Sense Advisors Inc. Decreases Position in Newmont Co. (NYSE:NEM)

Financial Sense Advisors Inc. reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 23.5% during the fourth quarter, HoldingsChannel reports. The firm owned 115,257 shares of the basic materials company’s stock after selling 35,463 shares during the period. Newmont comprises 1.4% of Financial Sense Advisors Inc.’s portfolio, making the stock its 16th biggest holding. Financial Sense Advisors Inc.’s holdings in Newmont were worth $4,290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. E. Ohman J or Asset Management AB increased its position in shares of Newmont by 0.4% during the 3rd 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 last quarter. Carmel Capital Partners LLC lifted its holdings in shares of Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after buying an additional 226 shares in the last quarter. Studio Investment Management LLC boosted its stake in Newmont by 29.4% during the third 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 during the last quarter. Confluence Investment Management LLC lifted its position in Newmont by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after purchasing an additional 281 shares during the last quarter. Finally, Fiduciary Financial Group LLC increased its stake in Newmont by 3.6% during the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 303 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.2 %

NEM opened at $47.42 on Thursday. The stock has a market capitalization of $53.99 billion, a PE ratio of -31.20, a P/E/G ratio of 0.39 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The business’s 50 day moving average price is $41.33 and its 200 day moving average price is $46.46.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry M. Iv Conger bought 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now owns 14,498 shares in the company, valued at approximately $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 valued at $1,166,843. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bernstein Bank increased their price objective on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. CLSA initiated coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued 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 Company 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.