Alan B Lancz & Associates Inc. Has $304,000 Stake in Newmont Co. (NYSE:NEM)

Alan B Lancz & Associates Inc. reduced its holdings in Newmont Co. (NYSE:NEM) by 10.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,170 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. Alan B Lancz & Associates Inc.’s holdings in Newmont were worth $304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zurich Insurance Group Ltd FI acquired a new stake in shares of Newmont in the third quarter valued at about $98,011,000. Nordea Investment Management AB increased its position in shares of Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. FMR LLC increased its position in shares of Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after purchasing an additional 1,226,697 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Newmont by 262.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after purchasing an additional 1,096,905 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Newmont by 6,387.0% in the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after buying an additional 964,815 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Raymond James lowered 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. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. CLSA began coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Bernstein Bank boosted their price target on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Newmont Stock Performance

Shares of Newmont stock opened at $42.05 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a 50-day moving average of $40.35 and a 200-day moving average of $46.78. Newmont Co. has a 52-week low of $29.42 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last posted 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). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, equities analysts forecast that Newmont Co. will post 3.07 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’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 $120,000.00. Following the completion of the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,077 shares of company stock worth $563,080. Corporate insiders own 0.06% of the company’s stock.

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.