43,622 Shares in Newmont Co. (NYSE:NEM) Purchased by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new stake in shares of Newmont Co. (NYSE:NEM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 43,622 shares of the basic materials company’s stock, valued at approximately $1,624,000.

A number of other hedge funds have also recently modified their holdings of NEM. Zurich Insurance Group Ltd FI purchased a new position in Newmont during the 3rd quarter valued at $98,011,000. Nordea Investment Management AB boosted its stake in shares of Newmont by 173.0% during 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. FMR LLC grew its holdings 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 worth $376,953,000 after purchasing an additional 1,226,697 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Newmont by 262.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after buying an additional 1,096,905 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Newmont by 6,387.0% during the 3rd quarter. International Assets Investment Management LLC now owns 979,921 shares of the basic materials company’s stock valued at $52,377,000 after buying an additional 964,815 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. Raymond James cut their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Royal Bank of Canada raised their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $53.37.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the sale, the director now directly owns 49,993 shares in the company, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the transaction, the executive vice president now directly 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. Insiders sold 28,154 shares of company stock worth $1,166,843 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of NEM stock opened at $46.61 on Tuesday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week 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 firm has a market capitalization of $53.06 billion, a price-to-earnings ratio of -30.66, a PEG ratio of 0.38 and a beta of 0.52. The stock’s 50-day simple moving average is $41.01 and its 200-day simple moving average is $46.48.

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.