Citizens National Bank Trust Department Cuts Stock Position in Newmont Co. (NYSE:NEM)

Citizens National Bank Trust Department lessened its holdings in Newmont Co. (NYSE:NEM) by 9.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,887 shares of the basic materials company’s stock after selling 1,483 shares during the period. Citizens National Bank Trust Department’s holdings in Newmont were worth $517,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Waverton Investment Management Ltd grew its position in Newmont by 14.0% in the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after acquiring an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after purchasing an additional 18,722 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after buying an additional 865,213 shares during the period. Finally, Red Cedar Investment Management LLC purchased a new stake in Newmont during the third quarter worth $1,263,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.2 %

Shares of NEM stock opened at $47.42 on Thursday. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $41.33 and a 200 day moving average price of $46.46.

Insider Transactions at Newmont

In related news, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the purchase, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock valued at $1,166,843 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Raymond James reduced their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Finally, CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $53.37.

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.