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 on Monday, February 3rd. The stock was 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 of the company’s stock, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Newmont Trading Up 3.8 %

NEM traded up $1.63 during trading hours on Wednesday, reaching $44.98. The company’s stock had a trading volume of 14,078,828 shares, compared to its average volume of 8,601,995. The business’s 50-day moving average is $40.29 and its 200-day moving average is $46.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market cap of $51.21 billion, a PE ratio of -29.59, a P/E/G ratio of 0.36 and a beta of 0.52. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Hedge Funds Weigh In On Newmont

Hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new stake in shares of Newmont during the second quarter valued at about $682,000. Czech National Bank increased its holdings in Newmont by 6.4% in the 3rd quarter. Czech National Bank now owns 233,743 shares of the basic materials company’s stock valued at $12,494,000 after purchasing an additional 14,002 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Newmont by 21.2% in the third quarter. GAMMA Investing LLC now owns 18,630 shares of the basic materials company’s stock valued at $996,000 after purchasing an additional 3,264 shares during the period. Diversified Trust Co acquired a new stake in shares of Newmont in the third quarter valued at $268,000. Finally, Everpar Advisors LLC acquired a new position in Newmont during the 3rd quarter worth $204,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NEM shares. Bernstein Bank boosted their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Raymond James reduced their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. CLSA started coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Finally, Royal Bank of Canada lowered their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $53.44.

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.