Insider Selling: Newmont Co. (NYSE:NEM) Director Sells $89,082.53 in Stock

Newmont Co. (NYSE:NEM) Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the sale, the director now owns 49,993 shares in the company, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Newmont Stock Down 0.1 %

NEM stock opened at $44.85 on Friday. The firm has a market cap of $51.06 billion, a PE ratio of -29.51, a PEG ratio of 0.36 and a beta of 0.52. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a fifty day simple moving average of $40.41 and a 200 day simple moving average of $46.53. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NEM shares. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Bernstein Bank increased their target price on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Royal Bank of Canada lowered their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. Scotiabank reduced their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.44.

Institutional Trading of Newmont

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Zurich Insurance Group Ltd FI acquired a new stake in Newmont in the 3rd quarter worth approximately $98,011,000. Nordea Investment Management AB raised its position in shares of 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 purchasing an additional 1,578,545 shares during the period. Amundi lifted its stake in shares of Newmont by 14.0% in the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after buying an additional 1,507,708 shares during the last quarter. FMR LLC boosted its holdings 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 buying an additional 1,226,697 shares during the period. Finally, Ruffer LLP grew its stake in Newmont by 19.7% in the 4th quarter. Ruffer LLP now owns 7,085,101 shares of the basic materials company’s stock valued at $263,706,000 after buying an additional 1,164,870 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

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.