Shell Asset Management Co. trimmed its position in Newmont Mining Corp (NYSE:NEM) by 46.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 428,379 shares of the basic materials company’s stock after selling 364,820 shares during the quarter. Shell Asset Management Co. owned approximately 0.08% of Newmont Mining worth $16,073,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Exane Derivatives purchased a new stake in shares of Newmont Mining in the fourth quarter worth about $208,000. Parametrica Management Ltd purchased a new stake in shares of Newmont Mining in the third quarter worth about $222,000. Tower Bridge Advisors purchased a new stake in shares of Newmont Mining in the fourth quarter worth about $242,000. Meeder Asset Management Inc. purchased a new stake in shares of Newmont Mining in the fourth quarter worth about $250,000. Finally, Timber Hill LLC purchased a new stake in shares of Newmont Mining in the third quarter worth about $260,000. 81.88% of the stock is currently owned by hedge funds and other institutional investors.
NEM has been the topic of a number of recent analyst reports. Deutsche Bank downgraded shares of Newmont Mining from a “buy” rating to a “hold” rating and lowered their price target for the stock from $42.00 to $40.00 in a report on Tuesday, January 16th. Zacks Investment Research downgraded shares of Newmont Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, January 19th. TheStreet downgraded shares of Newmont Mining from a “b-” rating to a “c” rating in a report on Friday, November 17th. BMO Capital Markets reissued a “buy” rating and issued a $43.00 price target on shares of Newmont Mining in a report on Wednesday, December 20th. Finally, TD Securities set a $42.00 price target on shares of Newmont Mining and gave the stock a “hold” rating in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $41.80.
In related news, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $36.98, for a total value of $36,980.00. Following the sale, the insider now directly owns 334,730 shares of the company’s stock, valued at $12,378,315.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $36.48, for a total transaction of $373,920.00. Following the completion of the sale, the executive vice president now directly owns 71,864 shares in the company, valued at $2,621,598.72. The disclosure for this sale can be found here. Insiders sold 27,700 shares of company stock worth $1,050,806 over the last ninety days. 0.32% of the stock is currently owned by insiders.
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Newmont Mining Profile
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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