Valicenti Advisory Services Inc. Sells 15,931 Shares of Newmont Co. (NYSE:NEM)

Valicenti Advisory Services Inc. lowered its position in shares of Newmont Co. (NYSE:NEM - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 168,431 shares of the basic materials company's stock after selling 15,931 shares during the period. Newmont comprises about 1.6% of Valicenti Advisory Services Inc.'s holdings, making the stock its 23rd largest holding. Valicenti Advisory Services Inc.'s holdings in Newmont were worth $6,269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEM. Hoese & Co LLP purchased a new position in Newmont in the 3rd quarter worth approximately $27,000. Avior Wealth Management LLC lifted its stake in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock worth $27,000 after acquiring an additional 326 shares during the period. Prospera Private Wealth LLC bought a new position in Newmont in the 3rd quarter worth $28,000. Highline Wealth Partners LLC bought a new stake in Newmont during the 3rd quarter valued at approximately $32,000. Finally, McIlrath & Eck LLC raised its holdings in Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock worth $43,000 after purchasing an additional 361 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NEM shares. Raymond James cut their price target on shares of Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, November 25th. UBS Group downgraded Newmont from a "buy" rating to a "neutral" rating and lowered their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. CIBC lowered shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research report on Monday, October 28th. Royal Bank of Canada dropped their price objective on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating on the stock in a report on Thursday, October 24th. Finally, Bernstein Bank upped their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $53.44.

Insider Activity at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company's stock, valued at $5,838,680. This represents a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock worth $563,080 over the last ninety days. Company insiders own 0.06% of the company's stock.

Newmont Stock Performance

Newmont stock traded up $0.19 on Wednesday, reaching $41.54. 9,941,780 shares of the stock were exchanged, compared to its average volume of 8,054,992. The firm has a fifty day moving average price of $40.30 and a two-hundred day moving average price of $46.72. Newmont Co. has a twelve month low of $29.42 and a twelve month high of $58.72. The stock has a market cap of $47.29 billion, a PE ratio of -27.33, a PEG ratio of 0.33 and a beta of 0.50. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

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.