KBC Group NV Reduces Position in Newmont Co. (NYSE:NEM)

KBC Group NV cut its holdings in shares of Newmont Co. (NYSE:NEM) by 20.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 238,501 shares of the basic materials company’s stock after selling 59,763 shares during the period. KBC Group NV’s holdings in Newmont were worth $8,877,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NEM. Heathbridge Capital Management Ltd. lifted its holdings in shares of Newmont by 2.0% during the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 200 shares during the period. E. Ohman J or Asset Management AB raised its position in Newmont by 0.4% in the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after acquiring an additional 200 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Newmont by 1.5% during the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after purchasing an additional 221 shares in the last quarter. Carmel Capital Partners LLC grew its stake in shares of Newmont by 4.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after purchasing an additional 226 shares during the period. Finally, Good Life Advisors LLC increased its holdings in shares of Newmont by 4.6% in the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 14,077 shares of company stock worth $563,080 in the last three months. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Scotiabank reduced their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Bernstein Bank upped their target price on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada dropped their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Newmont Stock Performance

NYSE NEM opened at $41.54 on Thursday. 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 company has a market capitalization of $47.29 billion, a PE ratio of -27.33, a price-to-earnings-growth ratio of 0.33 and a beta of 0.50. The business’s 50-day moving average price is $40.30 and its 200 day moving average price is $46.72. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72.

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.