Hourglass Capital LLC Purchases 47,635 Shares of Newmont Co. (NYSE:NEM)

Hourglass Capital LLC lifted its position in shares of Newmont Co. (NYSE:NEM) by 26.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 227,040 shares of the basic materials company’s stock after acquiring an additional 47,635 shares during the period. Newmont makes up about 2.3% of Hourglass Capital LLC’s portfolio, making the stock its 8th largest position. Hourglass Capital LLC’s holdings in Newmont were worth $8,450,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Van ECK Associates Corp raised its stake in Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company’s stock worth $1,851,606,000 after purchasing an additional 797,445 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 in the last quarter. FMR LLC boosted its stake in shares of 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. Ninety One UK Ltd grew its position in Newmont by 27.5% during the fourth quarter. Ninety One UK Ltd now owns 3,456,456 shares of the basic materials company’s stock worth $128,649,000 after buying an additional 744,718 shares in the last quarter. Finally, Swiss National Bank increased its stake in Newmont by 0.3% during the 3rd quarter. Swiss National Bank now owns 3,422,605 shares of the basic materials company’s stock worth $182,938,000 after acquiring an additional 9,500 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction 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 trade represents a 3.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the transaction, the director now directly owns 49,993 shares in the company, valued at $2,144,199.77. This represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Down 2.4 %

NYSE NEM opened at $46.61 on Friday. The business’s 50-day moving average price is $41.01 and its two-hundred day moving average price is $46.50. 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.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Scotiabank cut their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Royal Bank of Canada increased their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. upgraded shares of 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 assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.37.

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.