Maj Invest Holding A S Sells 452,968 Shares of Newmont Co. (NYSE:NEM)

Maj Invest Holding A S cut its stake in Newmont Co. (NYSE:NEM) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,928,778 shares of the basic materials company’s stock after selling 452,968 shares during the quarter. Newmont comprises about 3.6% of Maj Invest Holding A S’s holdings, making the stock its 16th largest position. Maj Invest Holding A S’s holdings in Newmont were worth $109,008,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hoese & Co LLP purchased a new position in Newmont during the 3rd quarter valued at $27,000. Avior Wealth Management LLC raised its stake in Newmont by 191.8% during the 3rd 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 last quarter. Prospera Private Wealth LLC purchased a new position in Newmont in the third quarter worth about $28,000. Highline Wealth Partners LLC bought a new position in Newmont in the 3rd quarter worth $32,000. Finally, McIlrath & Eck LLC lifted its holdings in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 361 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 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 value 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 $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock worth $563,080 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on NEM. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. CLSA assumed coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. Bernstein Bank increased their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group increased their price target on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. One 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $53.44.

Newmont Price Performance

Shares of NEM opened at $42.05 on Monday. 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 12 month low of $29.42 and a 12 month high of $58.72. The stock has a fifty day moving average price of $40.35 and a 200 day moving average price of $46.80.

About Newmont

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.