Patriot Financial Group Insurance Agency LLC trimmed its position in Newmont Co. (NYSE:NEM - Free Report) by 15.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,418 shares of the basic materials company's stock after selling 6,747 shares during the quarter. Patriot Financial Group Insurance Agency LLC's holdings in Newmont were worth $1,393,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of NEM. Hoese & Co LLP bought a new stake in shares of Newmont in the 3rd quarter valued at about $27,000. Avior Wealth Management LLC raised its holdings in shares of Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 326 shares during the period. Prospera Private Wealth LLC bought a new position in Newmont in the 3rd quarter valued at about $28,000. Highline Wealth Partners LLC bought a new position in Newmont in the 3rd quarter valued at about $32,000. Finally, McIlrath & Eck LLC raised its holdings in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock valued at $43,000 after acquiring an additional 361 shares during the period. 68.85% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
NEM has been the topic of several research analyst reports. Scotiabank lowered their price target 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. JPMorgan Chase & Co. raised shares of Newmont from a "neutral" rating to an "overweight" rating in a report on Tuesday, November 19th. UBS Group cut shares of Newmont from a "buy" rating to a "neutral" rating and lowered their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They issued a "buy" rating and a $47.20 price target on the stock. Finally, Bernstein Bank increased their target price on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.44.
Read Our Latest Analysis on NEM
Newmont Price Performance
Shares of NYSE NEM traded down $0.21 during trading hours on Tuesday, hitting $41.36. 6,079,845 shares of the stock were exchanged, compared to its average volume of 7,942,903. 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 has a market cap of $47.08 billion, a PE ratio of -27.21, a price-to-earnings-growth ratio of 0.33 and a beta of 0.50. The company's fifty day simple moving average is $40.34 and its two-hundred day simple moving average is $46.77. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72.
Insider Buying and Selling at Newmont
In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now owns 82,596 shares of the company's stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Harry M. Iv Conger bought 9,498 shares of the firm's stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the purchase, the director now owns 14,498 shares of the company's stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 14,077 shares of company stock worth $563,080 over the last quarter. Corporate insiders own 0.06% of the company's stock.
Newmont Profile
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Free Report)
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.
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