Viking Fund Management LLC Acquires 15,000 Shares of Newmont Co. (NYSE:NEM)

Viking Fund Management LLC grew its holdings in shares of Newmont Co. (NYSE:NEM) by 42.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,000 shares of the basic materials company’s stock after buying an additional 15,000 shares during the period. Viking Fund Management LLC’s holdings in Newmont were worth $1,861,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of NEM. Nisa Investment Advisors LLC lifted its position in shares of Newmont by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 119,987 shares of the basic materials company’s stock valued at $4,466,000 after acquiring an additional 520 shares during the period. Uncommon Cents Investing LLC boosted its holdings in Newmont by 89.0% in the fourth quarter. Uncommon Cents Investing LLC now owns 32,655 shares of the basic materials company’s stock worth $1,215,000 after acquiring an additional 15,375 shares in the last quarter. Strong Tower Advisory Services grew its stake in Newmont by 14.6% in the fourth quarter. Strong Tower Advisory Services now owns 44,824 shares of the basic materials company’s stock valued at $1,668,000 after acquiring an additional 5,724 shares during the period. Systrade AG bought a new stake in shares of Newmont during the fourth quarter valued at approximately $3,759,000. Finally, Ellsworth Advisors LLC raised its position in shares of Newmont by 6.1% during the fourth quarter. Ellsworth Advisors LLC now owns 17,205 shares of the basic materials company’s stock worth $640,000 after purchasing an additional 985 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The transaction was disclosed in a document filed 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 dated 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 transaction, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,077 shares of company stock worth $563,080. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Raymond James decreased their target price 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. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. CLSA initiated coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating for the company. Finally, UBS Group lowered 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

Newmont Trading Up 1.8 %

NYSE:NEM opened at $42.40 on Wednesday. The firm’s 50 day moving average is $40.30 and its 200 day moving average is $46.86. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The stock has a market capitalization of $48.27 billion, a PE ratio of -27.90, a price-to-earnings-growth ratio of 0.33 and a beta of 0.50. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Sell-side analysts expect that Newmont Co. will post 3.1 earnings per share for the current year.

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.