Dakota Wealth Management Cuts Stake in Newmont Co. (NYSE:NEM)

Dakota Wealth Management lowered its position in Newmont Co. (NYSE:NEM) by 10.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,208 shares of the basic materials company’s stock after selling 859 shares during the quarter. Dakota Wealth Management’s holdings in Newmont were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of NEM. Thrivent Financial for Lutherans boosted its stake in shares of Newmont by 18.5% during the second quarter. Thrivent Financial for Lutherans now owns 80,838 shares of the basic materials company’s stock valued at $3,385,000 after purchasing an additional 12,597 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Newmont by 73.8% during the second quarter. Public Sector Pension Investment Board now owns 44,338 shares of the basic materials company’s stock valued at $1,856,000 after purchasing an additional 18,823 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Newmont during the second quarter valued at approximately $91,000. MBB Public Markets I LLC purchased a new stake in shares of Newmont during the second quarter valued at approximately $2,819,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Newmont by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 861,416 shares of the basic materials company’s stock valued at $36,067,000 after purchasing an additional 14,455 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NEM opened at $42.05 on Monday. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $40.35 and a two-hundred day simple moving average of $46.80. The company has a market cap of $47.87 billion, a price-to-earnings ratio of -27.66, a price-to-earnings-growth ratio of 0.33 and a beta of 0.50.

Insider Activity

In related news, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction dated Wednesday, November 27th. The stock was purchased 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 of the company’s stock, valued at $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm’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 $83,080.00. Following the transaction, the director now owns 52,070 shares of the company’s stock, valued at $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 14,077 shares of company stock worth $563,080 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of analyst reports. Raymond James dropped their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Jefferies Financial Group raised their price target on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Bernstein Bank raised their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. CLSA assumed coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Finally, The Goldman Sachs Group assumed coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

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.