Koa Wealth Management LLC Buys Shares of 25,092 Newmont Co. (NYSE:NEM)

Koa Wealth Management LLC purchased a new position in Newmont Co. (NYSE:NEM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,092 shares of the basic materials company’s stock, valued at approximately $934,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Waverton Investment Management Ltd lifted 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 purchasing an additional 65,075 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 18,722 shares during the last quarter. Nordea Investment Management AB boosted its stake in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. grew its position 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 valued at $88,580,000 after acquiring an additional 865,213 shares during the last quarter. Finally, Red Cedar Investment Management LLC purchased a new position in shares of Newmont during the third quarter worth approximately $1,263,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of a number of research reports. CLSA began coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. Scotiabank cut their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Bernstein Bank raised their price target on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Insider Buying and Selling

In related news, Director Harry M. Iv Conger bought 9,498 shares of the business’s 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 in the company, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock valued at $563,080 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $43.11 on Friday. 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 company’s fifty day moving average price is $40.27 and its 200-day moving average price is $46.69. 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.