Inspire Investing LLC Has $4.07 Million Position in Newmont Co. (NYSE:NEM)

Inspire Investing LLC reduced its holdings in shares of Newmont Co. (NYSE:NEM) by 13.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 109,405 shares of the basic materials company’s stock after selling 16,750 shares during the period. Inspire Investing LLC’s holdings in Newmont were worth $4,072,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Newmont by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 23,484,382 shares of the basic materials company’s stock valued at $1,253,457,000 after acquiring an additional 326,243 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Newmont by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 8,071,845 shares of the basic materials company’s stock valued at $337,909,000 after acquiring an additional 109,084 shares in the last quarter. FMR LLC lifted its holdings in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after purchasing an additional 1,226,697 shares during the last quarter. Swiss National Bank lifted its holdings in Newmont by 0.3% during the 3rd quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock valued at $182,938,000 after purchasing an additional 9,500 shares during the last quarter. Finally, National Pension Service lifted its holdings in Newmont by 27.9% during the 3rd quarter. National Pension Service now owns 2,533,077 shares of the basic materials company’s stock valued at $135,393,000 after purchasing an additional 552,698 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NEM shares. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and cut their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Scotiabank dropped their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday. The Goldman Sachs Group started coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. Finally, Raymond James dropped their target price 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the company’s 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 $83,080.00. Following the completion of the transaction, the director now owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Down 1.7 %

NEM opened at $41.64 on Thursday. The company has a market cap of $47.40 billion, a price-to-earnings ratio of -27.39, a price-to-earnings-growth ratio of 0.34 and a beta of 0.50. The firm has a 50 day simple moving average of $40.31 and a 200 day simple moving average of $46.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, sell-side analysts anticipate that Newmont Co. will post 3.07 earnings per share for the current year.

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.