Alberta Investment Management Corp Acquires 89,201 Shares of Newmont Co. (NYSE:NEM)

Alberta Investment Management Corp grew its holdings in shares of Newmont Co. (NYSE:NEM) by 35.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 341,601 shares of the basic materials company’s stock after buying an additional 89,201 shares during the period. Alberta Investment Management Corp’s holdings in Newmont were worth $12,714,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. E. Ohman J or Asset Management AB raised its position in shares of Newmont by 0.4% during the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after purchasing an additional 200 shares during the period. Carmel Capital Partners LLC raised its position in shares of Newmont by 4.5% during the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after purchasing an additional 226 shares during the period. Studio Investment Management LLC raised its position in shares of Newmont by 29.4% during the third quarter. Studio Investment Management LLC now owns 1,149 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 261 shares during the period. Confluence Investment Management LLC raised its position in shares of Newmont by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock worth $439,000 after purchasing an additional 281 shares during the period. Finally, Fiduciary Financial Group LLC raised its position in shares of Newmont by 3.6% during the fourth quarter. Fiduciary Financial Group LLC now owns 8,654 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 303 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the transaction, the executive vice president now owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is owned by company insiders.

Newmont Stock Up 2.1 %

Shares of Newmont stock opened at $47.53 on Wednesday. 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 1 year low of $29.42 and a 1 year high of $58.72. The stock has a fifty day moving average price of $41.23 and a 200-day moving average price of $46.45.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NEM. Royal Bank of Canada upped their target price on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Bernstein Bank upped their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $53.37.

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.