Euro Pacific Asset Management LLC Sells 3,506 Shares of Newmont Co. (NYSE:NEM)

Euro Pacific Asset Management LLC decreased its position in Newmont Co. (NYSE:NEM) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 352,630 shares of the basic materials company’s stock after selling 3,506 shares during the period. Newmont makes up approximately 2.9% of Euro Pacific Asset Management LLC’s holdings, making the stock its 12th biggest position. Euro Pacific Asset Management LLC’s holdings in Newmont were worth $13,339,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Heathbridge Capital Management Ltd. lifted its stake in shares of Newmont by 2.0% in the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after buying an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings in Newmont by 0.4% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after acquiring an additional 200 shares during the last quarter. Fulton Bank N.A. lifted its position in Newmont by 1.5% in the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after acquiring an additional 221 shares in the last quarter. Carmel Capital Partners LLC boosted its stake in 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 purchasing an additional 226 shares during the last quarter. Finally, Good Life Advisors LLC increased its holdings in shares of 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 purchasing an additional 229 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The stock was 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 of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock worth $563,080 over the last 90 days. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NEM shares. Royal Bank of Canada dropped their price objective 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. Bernstein Bank raised their price target on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Raymond James dropped their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Finally, Scotiabank lowered their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.44.

Newmont Price Performance

NYSE:NEM opened at $42.05 on Friday. The business’s 50-day moving average is $40.33 and its 200 day moving average is $46.79. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72.

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