Fifth Third Bancorp Has $1.26 Million Stock Position in Newmont Co. (NYSE:NEM)

Fifth Third Bancorp lessened its holdings in Newmont Co. (NYSE:NEM) by 52.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,809 shares of the basic materials company’s stock after selling 37,858 shares during the period. Fifth Third Bancorp’s holdings in Newmont were worth $1,258,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Public Sector Pension Investment Board boosted its position in shares of Newmont by 73.8% during the second quarter. Public Sector Pension Investment Board now owns 44,338 shares of the basic materials company’s stock valued at $1,856,000 after buying an additional 18,823 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Newmont by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 861,416 shares of the basic materials company’s stock valued at $36,067,000 after acquiring an additional 14,455 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Newmont by 9.1% in the 2nd quarter. Mackenzie Financial Corp now owns 189,912 shares of the basic materials company’s stock worth $7,952,000 after acquiring an additional 15,860 shares in the last quarter. Creative Planning raised its holdings in shares of Newmont by 35.9% in the second quarter. Creative Planning now owns 104,843 shares of the basic materials company’s stock valued at $4,390,000 after purchasing an additional 27,722 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of Newmont by 3.8% during the second quarter. B. Riley Wealth Advisors Inc. now owns 100,884 shares of the basic materials company’s stock valued at $4,224,000 after purchasing an additional 3,653 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.5 %

Shares of NEM opened at $41.36 on Wednesday. The stock has a market capitalization of $47.08 billion, a P/E ratio of -27.21, a PEG ratio of 0.33 and a beta of 0.50. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $40.34 and a two-hundred day simple moving average of $46.77.

Analyst Ratings Changes

Several research firms have commented on NEM. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. CLSA began coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, Scotiabank lowered their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Insider Transactions at Newmont

In related news, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,077 shares of company stock worth $563,080. Company insiders own 0.06% of the company’s stock.

About Newmont

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.