Maj Invest Holding A S Sells 206,591 Shares of Newmont Corporation $NEM

Maj Invest Holding A S trimmed its stake in shares of Newmont Corporation (NYSE:NEM) by 9.8% in the third quarter, Holdings Channel.com reports. The fund owned 1,891,220 shares of the basic materials company’s stock after selling 206,591 shares during the period. Newmont makes up about 5.4% of Maj Invest Holding A S’s holdings, making the stock its 7th largest holding. Maj Invest Holding A S’s holdings in Newmont were worth $159,450,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Concord Wealth Partners raised its holdings in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC grew its holdings in Newmont by 408.2% in the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares during the last quarter. Capital A Wealth Management LLC increased its position in shares of Newmont by 1,648.3% in the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after buying an additional 478 shares in the last quarter. Caldwell Trust Co purchased a new position in shares of Newmont in the second quarter valued at $31,000. Finally, Country Trust Bank acquired a new position in shares of Newmont during the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $125.97 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm has a market cap of $137.46 billion, a PE ratio of 19.56, a P/E/G ratio of 0.95 and a beta of 0.41. The firm has a 50 day simple moving average of $101.35 and a 200-day simple moving average of $85.43. Newmont Corporation has a 1-year low of $40.85 and a 1-year high of $129.25.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research reports. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. DZ Bank raised shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. Canaccord Genuity Group raised their price objective on shares of Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America lifted their price objective on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, The Goldman Sachs Group raised their price target on Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research report on Monday, January 12th. Six analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Buy” and a consensus target price of $105.88.

Insider Buying and Selling at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,160 shares of company stock valued at $767,206 over the last quarter. 0.05% of the stock is currently owned by insiders.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long?lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.