Union Bancaire Privee UBP SA Takes $7.51 Million Position in Newmont Co. (NYSE:NEM)

Union Bancaire Privee UBP SA purchased a new stake in Newmont Co. (NYSE:NEM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 208,877 shares of the basic materials company’s stock, valued at approximately $7,508,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Trust Inc. grew its holdings in shares of Newmont by 9.9% during the fourth quarter. Blue Trust Inc. now owns 20,657 shares of the basic materials company’s stock valued at $769,000 after buying an additional 1,860 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Newmont by 53.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,640 shares of the basic materials company’s stock valued at $322,000 after purchasing an additional 3,001 shares during the last quarter. Encompass More Asset Management increased its holdings in Newmont by 267.9% during the 4th quarter. Encompass More Asset Management now owns 37,501 shares of the basic materials company’s stock worth $1,396,000 after purchasing an additional 27,309 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. Finally, Hedges Asset Management LLC boosted its position in shares of Newmont by 25.6% during the fourth quarter. Hedges Asset Management LLC now owns 22,450 shares of the basic materials company’s stock valued at $836,000 after buying an additional 4,571 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NEM. Scotiabank lowered their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada cut their target price on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Bernstein Bank raised their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, The Goldman Sachs Group began coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.44.

Insider Buying and Selling

In other Newmont news, 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 completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harry M. Iv Conger acquired 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 14,077 shares of company stock worth $563,080 in the last ninety days. 0.06% of the stock is owned by insiders.

Newmont Price Performance

Shares of NYSE:NEM opened at $42.05 on Monday. The stock’s 50-day moving average price is $40.35 and its 200-day moving average price is $46.80. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72.

Newmont Company Profile

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.