Newmont Co. (NYSE:NEM) Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA trimmed its holdings in shares of Newmont Co. (NYSE:NEM) by 54.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,920 shares of the basic materials company’s stock after selling 137,020 shares during the period. Banque Pictet & Cie SA’s holdings in Newmont were worth $4,352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NEM. Waverton Investment Management Ltd grew its position in shares of Newmont by 14.0% during the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after acquiring an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after acquiring an additional 18,722 shares during the last quarter. Nordea Investment Management AB grew its position 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 worth $92,832,000 after acquiring an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after acquiring an additional 865,213 shares during the last quarter. Finally, Red Cedar Investment Management LLC bought a new position in shares of Newmont during the third quarter worth about $1,263,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NEM opened at $46.61 on Friday. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company has a 50-day moving average of $40.90 and a two-hundred day moving average of $46.51. The stock has a market cap 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 company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Analysts Set New Price Targets

Several research firms have recently commented on NEM. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. Scotiabank decreased their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Royal Bank of Canada increased 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. Finally, CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. 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 given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.37.

Insiders Place Their Bets

In other news, Director Harry M. Iv Conger bought 9,498 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $83,080.00. Following the completion of the transaction, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,154 shares of company stock worth $1,166,843 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

Newmont Company 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.