1 week Ago By ABMN Staff
Ameritas Advisory Services LLC cut its stake in Newmont Co. ( NYSE:NEM – Free Report ) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission.
The institutional investor owned 13,842 shares of the basic materials company’s stock after selling 1,165 shares during the period. Ameritas Advisory Services LLC’s holdings in Newmont were worth $515,000 at the end of the most recent reporting period. A number of other hedge funds and other institutional investors also recently modified their holdings of the stock.
Avior Wealth Management LLC increased its stake in 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 in the last quarter.
Hoese & Co LLP acquired a new stake in Newmont in the third quarter valued at $27,000. Prospera Private Wealth LLC purchased a new position in shares of Newmont in the third quarter valued at $28,000. Highline Wealth Partners LLC acquired a new position in shares of Newmont during the 3rd quarter worth $32,000.
Finally, McIlrath & Eck LLC boosted its position in shares of Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after buying an additional 361 shares in the last quarter.
68.85% of the stock is currently owned by institutional investors and hedge funds. Wall Street Analyst Weigh In Several equities analysts have weighed in on the stock.
UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and dropped their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th.
The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company.
Veritas raised Newmont to a “strong-buy” rating in a research note on Monday, September 30th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Raymond James decreased their price objective on Newmont from $62.
00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. One equities 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 issued a strong buy rating to the stock.
According to data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.
Newmont Stock Performance NYSE:NEM opened at $41.64 on Thursday. The company has a market cap of $47.
40 billion, a P/E ratio of -27.39, a P/E/G ratio of 0.33 and a beta of 0.
50. The firm’s 50 day moving average is $40.30 and its two-hundred day moving average is $46.
86. Newmont Co. has a fifty-two week low of $29.
42 and a fifty-two week 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.
Newmont ( NYSE:NEM – Get Free Report ) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.
86 by ($0.05). The firm had revenue of $4.
61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.
03% and a positive return on equity of 9.80%. Newmont’s revenue was up 84.
7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS.
Analysts expect that Newmont Co. will post 3.1 EPS for the current year.
Insider Activity In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.
00. Following the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at approximately $3,303,840. This trade represents a 3.
50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link . Also, Director Bruce R.
Brook sold 2,077 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.
00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, 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 valued at $563,080 in the last three months.
Corporate insiders own 0.06% of the company’s stock. About Newmont ( 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. Read More Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Newmont Co. ( NYSE:NEM – Free Report ). Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.
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