Perigon Wealth Management LLC Has $862,000 Holdings in Newmont Co. (NYSE:NEM)

Perigon Wealth Management LLC lowered its position in Newmont Co. (NYSE:NEM) by 23.7% during the fourth quarter, Holdings Channel reports. The firm owned 23,152 shares of the basic materials company’s stock after selling 7,195 shares during the period. Perigon Wealth Management LLC’s holdings in Newmont were worth $862,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NEM. Waverton Investment Management Ltd raised its stake in Newmont by 14.0% during the third quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after buying an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Newmont by 117.3% in the 3rd 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 position in shares of Newmont by 173.0% during the 4th 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 in the last quarter. Assenagon Asset Management S.A. grew its stake 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 purchasing an additional 865,213 shares during the period. Finally, Red Cedar Investment Management LLC bought a new stake in Newmont in the third quarter worth approximately $1,263,000. 68.85% of the stock is owned by institutional investors.

Insider Transactions at Newmont

In related news, Director Harry M. Iv Conger purchased 9,498 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the acquisition, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock worth $563,080 in the last 90 days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. CLSA assumed coverage on Newmont in a report on Friday, November 29th. They set an “underperform” rating on the stock. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. Bernstein Bank lifted their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, Scotiabank decreased their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.44.

Newmont Stock Up 3.7 %

Newmont stock opened at $43.11 on Friday. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two 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. The firm’s 50-day simple moving average is $40.27 and its 200 day simple moving average is $46.69. The stock has a market cap of $49.08 billion, a PE ratio of -28.36, a price-to-earnings-growth ratio of 0.33 and a beta of 0.50.

Newmont 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.