State of Alaska Department of Revenue Sells 3,520 Shares of Newmont Co. (NYSE:NEM)

State of Alaska Department of Revenue reduced its holdings in Newmont Co. (NYSE:NEM) by 2.6% in the 4th quarter, Holdings Channel reports. The fund owned 129,793 shares of the basic materials company’s stock after selling 3,520 shares during the quarter. State of Alaska Department of Revenue’s holdings in Newmont were worth $4,830,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NEM. Hoese & Co LLP bought a new stake in Newmont during the 3rd quarter worth approximately $27,000. Avior Wealth Management LLC boosted its holdings in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Newmont during the third quarter worth $28,000. Highline Wealth Partners LLC acquired a new stake in shares of Newmont during the third quarter worth $32,000. Finally, HHM Wealth Advisors LLC lifted 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 acquiring an additional 350 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, Director Harry M. Iv Conger bought 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired 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 of the company’s stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated 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 transaction, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is owned by company insiders.

Newmont Trading Down 0.1 %

Newmont stock opened at $44.85 on Friday. 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 stock has a 50-day simple moving average of $40.41 and a 200 day simple moving average of $46.53. The stock has a market capitalization of $51.06 billion, a P/E ratio of -29.51, a PEG ratio of 0.36 and a beta of 0.52. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada dropped their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. Raymond James reduced their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, CLSA began coverage on shares of Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.