Princeton Global Asset Management LLC Sells 524 Shares of Newmont Co. (NYSE:NEM)

Princeton Global Asset Management LLC decreased its holdings in Newmont Co. (NYSE:NEM) by 26.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,426 shares of the basic materials company’s stock after selling 524 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Newmont were worth $53,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in Newmont by 1.4% in the third 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 buying an additional 326,243 shares during the period. FMR LLC raised its stake in Newmont by 21.1% in the third quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock valued at $376,953,000 after buying an additional 1,226,697 shares during the period. Swiss National Bank raised its stake in Newmont by 0.3% in the third quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock valued at $182,938,000 after buying an additional 9,500 shares during the period. National Pension Service raised its stake in Newmont by 27.9% in the third quarter. National Pension Service now owns 2,533,077 shares of the basic materials company’s stock valued at $135,393,000 after buying an additional 552,698 shares during the period. Finally, Nordea Investment Management AB raised its stake in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after buying an additional 1,578,545 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, Director Harry M. Iv Conger purchased 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the purchase, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The purchase 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 stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value 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. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,077 shares of company stock valued at $563,080. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Raymond James decreased their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating on the stock. Bernstein Bank upped their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have assigned 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, Newmont has a consensus rating of “Moderate Buy” and an average target price of $53.44.

Newmont Trading Up 0.9 %

Shares of NEM stock opened at $43.11 on Tuesday. The stock’s fifty day moving average price is $40.26 and its two-hundred day moving average price is $46.61. The company has a market cap of $49.07 billion, a PE ratio of -28.36, a P/E/G ratio of 0.36 and a beta of 0.52. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. 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 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.