IFP Advisors Inc Reduces Holdings in Newmont Mining Corp (NEM)

IFP Advisors Inc lessened its position in Newmont Mining Corp (NYSE:NEM) by 30.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,045 shares of the basic materials company’s stock after selling 1,785 shares during the period. IFP Advisors Inc’s holdings in Newmont Mining were worth $152,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Carmignac Gestion increased its holdings in shares of Newmont Mining by 8.0% in the 3rd quarter. Carmignac Gestion now owns 15,346,347 shares of the basic materials company’s stock worth $575,641,000 after acquiring an additional 1,141,466 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Newmont Mining by 12.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,596,020 shares of the basic materials company’s stock worth $397,458,000 after acquiring an additional 1,150,995 shares during the period. Flossbach Von Storch AG increased its stake in Newmont Mining by 2.5% during the 3rd quarter. Flossbach Von Storch AG now owns 8,072,121 shares of the basic materials company’s stock valued at $302,785,000 after buying an additional 198,935 shares during the period. First Eagle Investment Management LLC increased its stake in Newmont Mining by 159.2% during the 3rd quarter. First Eagle Investment Management LLC now owns 4,207,739 shares of the basic materials company’s stock valued at $157,832,000 after buying an additional 2,584,318 shares during the period. Finally, Legal & General Group Plc increased its stake in Newmont Mining by 1.9% during the 3rd quarter. Legal & General Group Plc now owns 3,018,688 shares of the basic materials company’s stock valued at $113,209,000 after buying an additional 55,202 shares during the period. 81.97% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have commented on NEM. B. Riley reissued a “neutral” rating on shares of Newmont Mining in a research note on Wednesday, November 1st. BMO Capital Markets set a $45.00 target price on shares of Newmont Mining and gave the company a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research raised shares of Newmont Mining from a “hold” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research note on Tuesday, December 5th. Royal Bank of Canada reissued a “hold” rating and set a $43.00 target price on shares of Newmont Mining in a research note on Tuesday, December 5th. Finally, Scotiabank set a $48.00 target price on shares of Newmont Mining and gave the company a “buy” rating in a research note on Monday, January 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.95.

Newmont Mining Corp (NEM) opened at $36.61 on Friday. Newmont Mining Corp has a fifty-two week low of $31.42 and a fifty-two week high of $42.04. The company has a market cap of $19,749.45, a PE ratio of 26.64 and a beta of 0.24. The company has a quick ratio of 3.58, a current ratio of 4.18 and a debt-to-equity ratio of 0.33.

In other news, insider Gary J. Goldberg sold 1,000 shares of the 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 completion of the sale, the insider now directly owns 334,730 shares of the company’s stock, valued at $12,378,315.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was 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 of the company’s stock, valued at $2,621,598.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,700 shares of company stock valued at $1,050,806. Corporate insiders own 0.32% of the company’s stock.

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Newmont Mining Company 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.

Institutional Ownership by Quarter for Newmont Mining (NYSE:NEM)

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