Newmont Co. (NYSE:NEM) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in Newmont Co. (NYSE:NEM) by 13.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 582,060 shares of the basic materials company’s stock after purchasing an additional 69,271 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Newmont were worth $22,178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. E. Ohman J or Asset Management AB grew its stake 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 valued at $2,562,000 after purchasing an additional 200 shares in the last quarter. Carmel Capital Partners LLC grew its stake in shares of Newmont by 4.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after buying an additional 226 shares in the last quarter. Good Life Advisors LLC increased its holdings in Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after buying an additional 229 shares during the last quarter. Studio Investment Management LLC raised its position in Newmont by 29.4% during the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 261 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its stake in Newmont by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after acquiring an additional 281 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Bernstein Bank raised their target price on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Raymond James decreased their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Scotiabank cut their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Finally, UBS Group cut Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.37.

Newmont Stock Down 2.4 %

NYSE NEM opened at $46.61 on Friday. Newmont Co. has a twelve month low of $29.42 and a twelve month 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. The stock has a market cap of $53.06 billion, a PE ratio of -30.66, a PEG ratio of 0.38 and a beta of 0.52. The firm has a 50-day simple moving average of $41.01 and a 200 day simple moving average of $46.50.

Insiders Place Their Bets

In other news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the transaction, the chief operating officer now owns 136,967 shares in the company, valued at approximately $5,874,514.63. This represents a 6.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is currently owned by company insiders.

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.