Concord Asset Management LLC VA Has $232,000 Stock Holdings in Newmont Co. (NYSE:NEM)

Concord Asset Management LLC VA lowered its stake in Newmont Co. (NYSE:NEM) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,238 shares of the basic materials company’s stock after selling 714 shares during the period. Concord Asset Management LLC VA’s holdings in Newmont were worth $232,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GFS Advisors LLC raised its position in Newmont by 63.2% in the fourth quarter. GFS Advisors LLC now owns 6,200 shares of the basic materials company’s stock valued at $231,000 after purchasing an additional 2,400 shares during the last quarter. Koa Wealth Management LLC bought a new stake in Newmont during the 4th quarter worth approximately $934,000. Swedbank AB lifted its holdings in shares of Newmont by 1.7% during the fourth quarter. Swedbank AB now owns 768,848 shares of the basic materials company’s stock worth $28,617,000 after purchasing an additional 12,608 shares during the period. Forsta AP Fonden increased its holdings in Newmont by 1.3% in the fourth quarter. Forsta AP Fonden now owns 239,400 shares of the basic materials company’s stock valued at $8,910,000 after purchasing an additional 3,000 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Newmont by 3.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 165,991 shares of the basic materials company’s stock valued at $6,178,000 after buying an additional 5,512 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NEM shares. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Raymond James decreased their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and dropped their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. The Goldman Sachs Group assumed coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Finally, Bernstein Bank lifted their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.44.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,077 shares of company stock worth $563,080. 0.06% of the stock is owned by company insiders.

Newmont Stock Down 0.9 %

Shares of NYSE:NEM opened at $42.71 on Friday. The company has a market capitalization of $48.63 billion, a PE ratio of -28.10, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. Newmont Co. has a 1 year low of $29.42 and a 1 year high of $58.72. 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 business has a fifty day moving average price of $40.26 and a two-hundred day moving average price of $46.63.

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.