R Squared Ltd Makes New Investment in Newmont Co. (NYSE:NEM)

R Squared Ltd bought a new stake in Newmont Co. (NYSE:NEM) during the fourth quarter, Holdings Channel reports. The institutional investor bought 5,730 shares of the basic materials company’s stock, valued at approximately $213,000.

Several other hedge funds also recently modified their holdings of the stock. Heathbridge Capital Management Ltd. lifted its holdings in Newmont by 2.0% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 200 shares in the last quarter. E. Ohman J or Asset Management AB lifted its holdings in shares of 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 worth $2,562,000 after buying an additional 200 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Newmont by 1.5% in the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after acquiring an additional 221 shares during the period. Carmel Capital Partners LLC grew its stake in Newmont by 4.5% during the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 226 shares in the last quarter. Finally, Good Life Advisors LLC increased its holdings in Newmont by 4.6% during the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after acquiring an additional 229 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the business’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 transaction, the director now owns 52,070 shares in the company, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average price of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 14,077 shares of company stock valued at $563,080 over the last three months. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent analyst reports. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Royal Bank of Canada decreased their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. Scotiabank cut their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Finally, UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and cut their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Newmont Price Performance

Shares of Newmont stock opened at $41.36 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The business’s 50 day simple moving average is $40.34 and its two-hundred day simple moving average is $46.77. The stock has a market capitalization of $47.08 billion, a P/E ratio of -27.21, a price-to-earnings-growth ratio of 0.33 and a beta of 0.50.

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.