Korea Investment CORP Lowers Stake in Montero Mining and Exploration Ltd (NYSE:MON)

Korea Investment CORP lessened its position in shares of Montero Mining and Exploration Ltd (NYSE:MON) by 3.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 546,804 shares of the company’s stock after selling 19,500 shares during the quarter. Korea Investment CORP owned about 0.12% of Montero Mining and Exploration worth $65,518,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MON. Atlantic Trust Group LLC increased its holdings in Montero Mining and Exploration by 40.6% in the 1st quarter. Atlantic Trust Group LLC now owns 20,367 shares of the company’s stock valued at $2,305,000 after purchasing an additional 5,879 shares during the last quarter. Sandy Spring Bank increased its holdings in Montero Mining and Exploration by 3.3% in the 1st quarter. Sandy Spring Bank now owns 31,580 shares of the company’s stock valued at $3,575,000 after purchasing an additional 1,021 shares during the last quarter. Schroder Investment Management Group increased its holdings in Montero Mining and Exploration by 522.2% in the 1st quarter. Schroder Investment Management Group now owns 32,371 shares of the company’s stock valued at $3,669,000 after purchasing an additional 27,168 shares during the last quarter. Bank of Hawaii increased its holdings in Montero Mining and Exploration by 16.8% in the 1st quarter. Bank of Hawaii now owns 11,821 shares of the company’s stock valued at $1,338,000 after purchasing an additional 1,698 shares during the last quarter. Finally, Kwmg LLC acquired a new stake in Montero Mining and Exploration in the 1st quarter valued at approximately $263,000.

In related news, CFO Pierre Courduroux sold 4,320 shares of the stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of C$122.00, for a total transaction of C$527,040.00. Following the completion of the transaction, the chief financial officer now directly owns 48,388 shares of the company’s stock, valued at C$5,903,336. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brett D. Begemann sold 22,640 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of C$120.03, for a total transaction of C$2,717,479.20. Following the transaction, the chief operating officer now directly owns 85,439 shares of the company’s stock, valued at C$10,255,243.17. The disclosure for this sale can be found here. Insiders have sold 49,236 shares of company stock valued at $5,931,934 over the last three months.

Shares of Montero Mining and Exploration Ltd (NYSE MON) opened at C$118.30 on Friday. Montero Mining and Exploration Ltd has a 1-year low of C$97.35 and a 1-year high of C$122.79.

Montero Mining and Exploration (NYSE:MON) last announced its earnings results on Wednesday, October 4th. The company reported C$0.20 EPS for the quarter, beating analysts’ consensus estimates of C($0.41) by C$0.61. The business had revenue of C$2.69 billion during the quarter, compared to analysts’ expectations of C$2.51 billion. Montero Mining and Exploration had a net margin of 0.93% and a return on equity of 1.24%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 earnings per share.

MON has been the subject of several research reports. UBS AG downgraded shares of Montero Mining and Exploration from a “buy” rating to a “neutral” rating and set a $128.00 price target for the company. in a research note on Friday, August 18th. BidaskClub downgraded shares of Montero Mining and Exploration from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Zacks Investment Research downgraded shares of Montero Mining and Exploration from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Piper Jaffray Companies set a $128.00 price target on shares of Montero Mining and Exploration and gave the stock a “buy” rating in a research note on Friday, August 11th. Finally, Wells Fargo & Company boosted their price target on shares of Montero Mining and Exploration from $107.50 to $118.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 10th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of C$124.61.

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About Montero Mining and Exploration

Monsanto Company (Monsanto), along with its subsidiaries, is a provider of agricultural products for farmers. The Company provides seeds, biotechnology trait products, herbicides and digital agriculture tools to farmers. The Company operates through two segments: Seeds and Genomics, and Agricultural Productivity.

Institutional Ownership by Quarter for Montero Mining and Exploration (NYSE:MON)

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