Newmont Co. (NYSE:NEM) Shares Sold by Keene & Associates Inc.

Keene & Associates Inc. decreased its holdings in Newmont Co. (NYSE:NEM) by 22.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 64,935 shares of the basic materials company’s stock after selling 19,226 shares during the quarter. Newmont comprises about 1.9% of Keene & Associates Inc.’s investment portfolio, making the stock its 26th largest holding. Keene & Associates Inc.’s holdings in Newmont were worth $2,417,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Creative Planning grew its stake in Newmont by 23.4% during the 3rd quarter. Creative Planning now owns 129,379 shares of the basic materials company’s stock worth $6,915,000 after purchasing an additional 24,536 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Newmont by 8.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 512,789 shares of the basic materials company’s stock valued at $27,409,000 after buying an additional 39,045 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of Newmont in the 3rd quarter valued at about $48,000. Whittier Trust Co. grew its position in shares of Newmont by 3.0% during the third quarter. Whittier Trust Co. now owns 15,040 shares of the basic materials company’s stock worth $804,000 after buying an additional 435 shares in the last quarter. Finally, Cetera Trust Company N.A purchased a new stake in shares of Newmont during the third quarter worth approximately $705,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were 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 directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Harry M. Iv Conger acquired 9,498 shares of the stock in a transaction on Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following 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 disclosure for this purchase can be found here. Over the last quarter, insiders sold 28,154 shares of company stock worth $1,166,843. Company insiders own 0.06% of the company’s stock.

Newmont Price Performance

Shares of Newmont stock opened at $47.53 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 1 year low of $29.42 and a 1 year high of $58.72. The company’s fifty day moving average is $41.23 and its two-hundred day moving average is $46.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NEM shares. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. CLSA assumed coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. Bernstein Bank raised their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and cut their target price for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

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.