Van ECK Associates Corp Has $1.85 Billion Stake in Newmont Co. (NYSE:NEM)

Van ECK Associates Corp lifted its position in shares of Newmont Co. (NYSE:NEM) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,747,598 shares of the basic materials company’s stock after purchasing an additional 797,445 shares during the quarter. Newmont accounts for 2.4% of Van ECK Associates Corp’s portfolio, making the stock its 4th largest position. Van ECK Associates Corp owned approximately 4.37% of Newmont worth $1,851,606,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Avior Wealth Management LLC boosted its holdings in shares of Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares during the period. Prospera Private Wealth LLC bought a new stake in Newmont in the 3rd quarter valued at $28,000. Highline Wealth Partners LLC acquired a new position in Newmont in the 3rd quarter worth $32,000. McIlrath & Eck LLC increased its holdings in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in shares of Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $46.83 on Thursday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The stock’s 50 day moving average price is $40.66 and its two-hundred day moving average price is $46.49. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NEM shares. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Scotiabank reduced their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Bernstein Bank lifted their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Raymond James cut their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Finally, Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

Insider Buying and Selling

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

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.