Louisiana State Employees Retirement System Sells 3,400 Shares of Newmont Co. (NYSE:NEM)

Louisiana State Employees Retirement System lessened its position in shares of Newmont Co. (NYSE:NEM) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,200 shares of the basic materials company’s stock after selling 3,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Newmont were worth $2,278,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. CWM LLC increased its stake in Newmont by 11.2% in the third quarter. CWM LLC now owns 19,111 shares of the basic materials company’s stock valued at $1,021,000 after purchasing an additional 1,930 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Newmont in the third quarter valued at $301,000. Creative Planning increased its stake in Newmont by 23.4% in the third quarter. Creative Planning now owns 129,379 shares of the basic materials company’s stock valued at $6,915,000 after purchasing an additional 24,536 shares in the last quarter. NBC Securities Inc. increased its stake in Newmont by 13.9% in the third quarter. NBC Securities Inc. now owns 4,466 shares of the basic materials company’s stock valued at $238,000 after purchasing an additional 544 shares in the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in Newmont in the third quarter valued at $200,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE NEM opened at $46.61 on Friday. The firm has a 50 day moving average of $40.90 and a 200 day moving average of $46.51. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $53.06 billion, a price-to-earnings ratio of -30.66, a price-to-earnings-growth ratio of 0.38 and a beta of 0.52. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72.

Insider Transactions at Newmont

In other Newmont news, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. Bernstein Bank lifted their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Raymond James reduced their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Finally, Scotiabank reduced their price objective on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. 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 given a strong buy rating to the company’s stock. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average price target of $53.37.

Newmont 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.