Newmont Co. (NYSE:NEM) Shares Purchased by Encompass More Asset Management

Encompass More Asset Management raised its holdings in shares of Newmont Co. (NYSE:NEM) by 267.9% in the 4th quarter, Holdings Channel reports. The firm owned 37,501 shares of the basic materials company’s stock after purchasing an additional 27,309 shares during the quarter. Encompass More Asset Management’s holdings in Newmont were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Heathbridge Capital Management Ltd. increased its position in Newmont by 2.0% in the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock worth $551,000 after buying an additional 200 shares during the period. E. Ohman J or Asset Management AB increased its holdings in shares of Newmont by 0.4% in the 3rd 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 acquiring an additional 200 shares during the period. Fulton Bank N.A. lifted its position in Newmont by 1.5% in the 3rd quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock valued at $812,000 after purchasing an additional 221 shares during the last quarter. Carmel Capital Partners LLC boosted its stake in Newmont by 4.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 226 shares during the period. Finally, Good Life Advisors LLC grew its position in Newmont by 4.6% in the 3rd quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 229 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock valued at $563,080 over the last three months. 0.06% of the stock is owned by corporate insiders.

Newmont Trading Up 1.4 %

Newmont stock opened at $42.55 on Friday. The company has a 50 day moving average price of $40.31 and a 200 day moving average price of $46.83. The firm has a market capitalization of $48.44 billion, a price-to-earnings ratio of -27.96, a P/E/G ratio of 0.33 and a beta of 0.50. Newmont Co. has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was up 84.7% on a year-over-year basis. Research analysts forecast that Newmont Co. will post 3.07 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NEM. Veritas upgraded Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Bernstein Bank boosted their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. CLSA began coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Finally, UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $53.44.

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.